Health Care REIT Prices Offering Of 17 Mln Shares At $75.5/shr - Quick Facts

(RTTNews) - Health Care REIT, Inc. (HCN) said it has priced its underwritten public offering of 17 million common shares at $75.50 per share. The underwriters were granted an option to buy up to an additional 2.55 million shares in the next 30 days. HCN anticipates that the gross proceeds from this offering would be around $1.3 billion or nearly $1.5 billion if the underwriters' option is exercised in full.

HCN plans to use the net proceeds from this offering to repay advances under its primary unsecured credit facility and for general corporate purposes, including investing in health care and seniors housing properties.

Goldman, Sachs & Co., Barclays, UBS Investment Bank, Wells Fargo Securities, BofA Merrill Lynch, KeyBanc Capital Markets and Morgan Stanley are acting as joint book-running managers for the offering.