Health Care REIT, a Toledo, Ohio-based real estate investment trust, has priced the sale of $300 million of 4.75% convertible senior notes due in 2026.The notes will be convertible, under certain circumstances, into cash. If applicable, they will also be convertible into shares of Health Care REIT's common stock at an initial conversion price of approximately $47.89 per share, the company said. The estimated net proceeds of $293.6 million will be used to repay borrowings under the REIT's lines of credit and to invest in additional health care properties, the company said. The joint book-running managers for the offering were UBS Investment Bank and Deutsche Bank Securities. The REIT can be found on the Web at http://www.hcreit.com.
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