HCP Prices $750 Million of 4.00% Senior Unsecured Notes Due 2025
May 14 2015 - 4:34PM
Business Wire
HCP, Inc. (NYSE:HCP) today priced an offering of $750 million of
4.00% senior unsecured notes due 2025. The price to investors was
99.126% of the principal amount of the notes representing a
yield-to-maturity of 4.107%.
The net proceeds from the offering after expenses are
approximately $736.5 million. HCP intends to allocate the net
proceeds from this offering (i) to pay a portion of the respective
purchase prices of the previously announced $849 million
acquisition of a portfolio of 35 private pay senior housing
communities from Chartwell Retirement Residences through a RIDEA
structure with Brookdale Senior Living Inc. and $161 million
acquisition of a medical office building located in Philadelphia,
Pennsylvania and (ii) for general corporate purposes, including
future acquisitions, investments or repayment of indebtedness.
The offering is expected to close on May 20, 2015, subject to
customary closing conditions.
Goldman, Sachs & Co., J.P. Morgan Securities LLC, Morgan
Stanley & Co. LLC and Wells Fargo 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) Goldman, Sachs & Co., 200 West Street, New
York, New York 10282, Attention: Prospectus Department, by phone at
(866) 471-2526 or by emailing prospectus-ny@ny.email.gs.com; (ii)
J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York
10179, Attention: Investment Grade Syndicate Desk - 3rd floor or by
phone at (212) 834-4533; (iii) Morgan Stanley & Co. LLC, 180
Varick Street, New York, New York 10014, Attention: Prospectus
Department or by phone at (866) 718-1649 and (iv) Wells Fargo
Securities, LLC, 608 2nd Avenue, South Minneapolis, MN 55402,
Attention: WFS Customer Service, by phone at (800) 645-3751 or by
emailing wfscustomerservice@wellsfargo.com.
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. HCP'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 a global leader in sustainability as a member of
the CDP, Dow Jones and FTSE4Good sustainability leadership indices,
as well as the GRESB Global Healthcare Sector Leader.
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. SchoenExecutive Vice President and Chief
Financial Officer(949) 407-0400
HCP (NYSE:HCP)
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