Welltower (WELL) closes $750 million senior notes offering.

Welltower (WELL) announced today that it has closed an offering of $750 million 2.800% senior unsecured notes due 2031.  The notes were priced at a discount to yield 2.855%, or +123 basis points to the treasury curve.  The notes are expected to be rated Baa1/BBB+ by Moody's and S&P. The company said that $675 million of proceeds from the offering would be used to fund the early redemption of bonds maturing in 2023, with remaining proceeds applied to reduce bank debt.

A member of the S&P 500, Welltower (WELL) is the largest health care REIT in the U.S. with a total market capitalization of approximately $40 billion.

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