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Health Care Reit Inc Announces Pricing Of 20,000,000 Shares Of Common Stock At $73.50 Per Share


Wednesday, 8 May 2013 05:24pm EDT 

Health Care Reit Inc announced the pricing of its underwritten public offering of 20,000,000 shares of common stock at $73.50 per share. The offering was increased in size from 18,000,000 shares. The Company has granted the underwriters an option to purchase up to an additional 3,000,000 shares during the next 30 days. The Company estimates that the gross proceeds from this offering will be approximately $1.5 billion (or approximately $1.7 billion if the underwriters option is exercised in full). The company intends to use the net proceeds from this offering to repay advances under HCN`s unsecured lines of credit, to repay other outstanding indebtedness and for general corporate purposes, including investing in health care real estate and seniors housing properties. UBS Investment Bank, Deutsche Bank Securities, Wells Fargo Securities, Barclays, J.P. Morgan, Citigroup and RBC Capital Markets acted as joint book-running managers for the offering. 

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