Earlier this week, Ventas announced their plans to offer 13 million shares of common stock and $200 million in senior notes to boost the company’s liquidity and strengthen its balance sheet. The company plans to use the
proceeds to pay down or repurchase its debt or for other corporate uses that it sees fit. Ventas has also issued tender offers for its outstanding senior notes that mature beginning in 2010 through 2015 and will use the proceeds for the equity raise as the means to retire the debt sooner. The company is looking for note holders to take a discount for notes that mature in 2014 & 2015. The company will plan on using approximately $310 million dollars in an attempt to redeem a total of $633 million in notes.
For the full 8-K that details the prices it is planning to pay for the redemption of the notes outstanding, click here.