Health Care REIT's 3% notes convertible till Jan. 2 due to stock price

By Toni Weeks

San Luis Obispo, Calif., Oct. 1 - Health Care REIT, Inc. said its 3% convertible senior notes due 2029 will continue to be convertible through Jan. 2.

The notes became convertible because the closing price of shares of the company's common stock for at least 20 trading days during the 30-consecutive-trading-day period ended Sept. 30 was greater than 120% of the conversion price in effect on Sept. 30.

The principal amount of the notes will be paid in cash, and the conversion value, if any, will be paid in shares of common stock based upon the volume-weighted average prices per share of the company's common stock during the 20-trading-day period.

The Bank of New York Mellon Trust Co., NA is the conversion agent.

Health Care REIT is a Toledo, Ohio-based real estate investment trust that invests in senior housing and health-care real estate.

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