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Article Excerpt
Prices $175 Million of 6 3/4% Senior Notes due 2010 and $175 million of 7 1/8% Senior Notes due 2015
Proceeds to Fund Provident Senior Living Acquisition
LOUISVILLE, Ky., May 27 /PRNewswire-FirstCall/ -- Ventas, Inc. (the "Company" or "Ventas") announced today that it has priced a private offering of $175 million of 6 3/4% Senior Notes due 2010 and $175 million of 7 1/8% Senior Notes due 2015. The sale of the Notes is expected to close on June 7, 2005.
The Notes are being issued by Ventas's operating partnership, Ventas Realty, Limited Partnership, and a wholly owned subsidiary, Ventas Capital Corporation (the "Issuers"). The Notes will mature on June 1, 2010 and June 1, 2015, respectively, and will be senior unsecured obligations, ranking pari passu with all existing and future senior unsecured indebtedness of the Issuers and the Company. The Company will unconditionally guarantee the Notes. Interest on the Notes will be payable semiannually on June 1 and December 1 of each year, commencing...
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