Welltower Inc. completes $300M note offering

Welltower Inc. (Welltower) (NYSE: HCN) completed a note offering of $300 million in the aggregate principal amount of 3.35 per cent senior unsecured notes due November 25, 2020. The notes were issued through a private placement in Canada at 99.740 per cent of their face amount to yield 3.407 per cent. The notes were issued by Welltower’s indirect wholly owned subsidiary, HCN Canadian Holdings-1 LP, which are guaranteed fully and unconditionally by Welltower. Welltower intends to use the net proceeds for general corporate purposes, including investing in healthcare and seniors housing properties.

The note offering was conducted through a team of agents co-led by RBC Dominion Securities Inc. and TD Securities Inc. and including Morgan Stanley Canada Limited, Wells Fargo Securities Canada, Ltd. and BMO Nesbitt Burns Inc.

Welltower (formerly Health Care REIT, Inc.) owns more than 1,400 properties in major, high-growth markets in the United States, Canada and the United Kingdom, comprising seniors housing and outpatient medical properties. 

Welltower and its indirect subsidiary, HCN Canadian Holdings-1 LP were represented in-house by Matthew McQueen, Senior Vice President, Legal and externally in Canada by Goodmans LLP with a team led by Gesta Abols (corporate/M&A) and Celia Rhea (banking) that included Elizabeth Jackman (banking) and Jon Northup and Ken Saddington (tax); and in the United States by Shumaker, Loop & Kendrick, LLP with a team that included Mary Ellen Pisanelli and Zach Madden (corporate/M&A).

The agents were represented by McCarthy Tétrault LLP with a team led by Andrew Parker (business law – corporate finance) and included Matt Harris (business law – corporate finance) and Patrick McCay (tax).