Ventas Canada Finance Limited, a wholly owned subsidiary of Ventas, Inc. (Ventas), completed a private placement of $400 million of 3.00 per cent senior notes due 2019 and $250 million of 4.125 per cent senior notes due 2024. The notes are unconditionally guaranteed on a senior unsecured basis by Ventas. The private placement was made through a syndicate of agents led by TD Securities and RBC Capital Markets that included J.P. Morgan, BofA Merrill Lynch, Wells Fargo Securities Canada, Credit Suisse, Credit Agricole CIB and BB&T Capital Markets. Proceeds of the private placement are expected to be used to repay a portion of the indebtedness incurred by Ventas Canada Finance Limited in connection with its acquisition of 29 independent living seniors housing communities located in Canada from Holiday Retirement Corp. This offering represents the first foray into the Canadian capital markets by Ventas.
Ventas was represented internally by Kristen Benson, Senior Vice President, Associate General Counsel & Corporate Secretary, and by Osler, Hoskin & Harcourt LLP with a team comprising Michael Innes, James Brown and Arlene Mack (corporate/securities) and Greg Wylie and David Davachi (tax).
The syndicate of agents was represented by a team from Stikeman Elliott LLP comprising Jeffrey Singer, Timothy McCormick, Matthew Hunt and Slavica Stojimirovic (corporate/securities) and John Lorito (tax).