Ventas (VTR) Unit Enters $500M Unsecured Term Loan
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Price: $81.21 -0.99%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.6%
Revenue Growth %: +17.6%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.6%
Revenue Growth %: +17.6%
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Ventas, Inc. (NYSE: VTR) said its subsidiary, Ventas Realty, Limited Partnership, has closed a new $500 million unsecured term loan that has a weighted average maturity of 4.5 years and is currently priced at 125 basis points over LIBOR.
Proceeds from the Term Loan will be used to repay borrowings outstanding on the Company’s $2 billion unsecured revolving credit facility and for general corporate purposes. The Term Loan consists of two tranches, a 3-year and a 5-year maturity, and includes an “accordion feature” permitting the Company to expand its borrowing capacity to a total of $900 million.
Proceeds from the Term Loan will be used to repay borrowings outstanding on the Company’s $2 billion unsecured revolving credit facility and for general corporate purposes. The Term Loan consists of two tranches, a 3-year and a 5-year maturity, and includes an “accordion feature” permitting the Company to expand its borrowing capacity to a total of $900 million.
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