HCP Closes $1.472 Billion Equity Offering For HCR ManorCare Transaction

HCP (NYSE:HCP) announced Monday it has successfully completed its $1.472 billion public offering of 46 million shares of common stock at a price per share of $32.00.  HCP intends to use the proceeds from the offering in combination with debt offerings, cash on hand and the funds received from repayment of its debt from existing HCR ManorCare debt to finance the previously announced $6.1 billion acquisition of substantially all of the post-acute, skilled nursing and assisted living facilities of HCR ManorCare.