IRVINE, Calif., Nov. 23, 2015 /PRNewswire/ -- HCP, Inc.
(NYSE:HCP) today priced an offering of $600
million of 4.000% senior unsecured notes due 2022. The
price to investors was 99.577% of the principal amount of the notes
representing a yield-to-maturity of 4.070%.
The net proceeds from the offering after expenses are
approximately $592.0 million.
HCP intends to use the net proceeds from this offering to repay its
$500 million 3.750% Senior Notes due February 2016 at or prior to their stated
maturity and for general corporate purposes, including future
acquisitions, investments or repayment of other indebtedness.
Prior to such repayment, HCP may use a portion of such
proceeds to temporarily reduce outstanding borrowings under its
revolving line of credit.
The offering is expected to close on December 1, 2015, subject to customary closing
conditions.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays
Capital Inc., RBC Capital Markets, LLC and UBS Securities LLC
are acting as joint book-running managers for the offering.
This offering of notes may be made only by means of a prospectus
supplement and a prospectus. A copy of the prospectus
supplement and the prospectus relating to the offering will be
filed with the Securities and Exchange Commission and, when
available, can be obtained from: (i) Merrill Lynch, Pierce, Fenner
& Smith Incorporated, 222 Broadway, 11th Floor, New York, NY 10038, Attention: Prospectus
Department, toll-free at 800-294-1322 or by emailing
dg.prospectus_requests@baml.com; (ii) Barclays Capital Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, toll-free at
888-603-5847 or by emailing barclaysprospectus@broadridge.com;
(iii) RBC Capital Markets, LLC, 200 Vesey Street, New York, NY 10281, Attention: Debt Capital
Markets, toll-free at 866-375-6829 or by emailing
usdebtcapitalmarkets@rbccm.com; or (iv) UBS Securities LLC, 1285
Avenue of the Americas, New York,
NY 10091, Attention: Prospectus Department or toll-free at
888-827-7275.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification thereof under the securities laws of any such state
or jurisdiction.
About HCP
HCP, Inc. is a fully integrated real estate investment trust
(REIT) that invests primarily in real estate serving the healthcare
industry in the United States. The Company's portfolio of
assets is diversified among five distinct sectors: senior housing,
post-acute/skilled nursing, life science, medical office and
hospital. A publicly traded company since 1985, HCP: (i) was
the first healthcare REIT selected to the S&P 500 index; (ii)
has increased its dividend per share for 30 consecutive years;
(iii) is the only REIT included in the S&P 500 Dividend
Aristocrats index; and (iv) is recognized as a global leader in
sustainability as a member of the Dow Jones and FTSE4Good
sustainability indices, as well as the recipient in three of the
past four years of both of the GRESB Global Healthcare Sector
Leader and the NAREIT Healthcare Leader in the Light
Award.
Forward-looking Statements
The statements contained in this release which are not
historical facts are forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These statements are subject
to risks and uncertainties that could cause actual results to
differ materially from those set forth in or implied by
forward-looking statements. These risks and uncertainties
include general economic conditions and the ability of HCP to
complete the offering and deploy the resulting proceeds as
indicated above, including the risk that the offering described
above will not close on the indicated timetable or at all, and that
the proceeds may not be able to be deployed as so indicated.
Some of these risks, and other risks, are described from time to
time in HCP's Securities and Exchange Commission filings.
HCP, Inc.
Timothy M. Schoen
Executive Vice President and Chief Financial Officer
(949) 407-0400
Logo - http://photos.prnewswire.com/prnh/20150831/262611LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/hcp-prices-600-million-of-4000-senior-unsecured-notes-due-2022-300183563.html
SOURCE HCP, Inc.