Welltower (WELL) prices $600 million senior notes due 2031.

Welltower (WELL) announced today that it has priced a $600 million offering of 2.75% senior unsecured notes due 2031.  The notes were priced at a discount to yield 2.806% or +205 basis points to the treasury curve.  Proceeds from the offering will be used to fund a $400 million tender offer for certain of WELL's 2023 corporate bonds, with any remaining proceeds used to repay advances under a term loan facility.

A member of the S&P 500, Welltower is the largest health care REIT in the U.S. with a total market capitalization of approximately $34.5 billion. The company's portfolio of over 1,700 properties encompasses senior housing communities (62%), outpatient medical office buildings (23%), post-acute facilities (8%), and health systems (7%).

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