Welltower to use convertible proceeds for senior notes due 2024

By Mary-Katherine Stinson

Lexington, Ky., May 12 – Welltower OP LLC announced plans for the proceeds from its new issue of 2.75% convertibles exchangeable for Welltower Inc. common shares, according to a company press release.

The company intends to use the proceeds of the upsized $1,035,000,000 deal for general corporate purposes, which may include the repayment or redemption of the company’s 4.5% senior notes due Jan. 15, 2024 and 3.625% senior notes due March 15, 2024 and investment in health care, wellness and senior housing properties.

Welltower is a Toledo, Ohio-based real estate investment trust focused on senior housing and post-acute and outpatient medical properties.

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