Health Care Property Investors, a Long Beach, Calif.-based real estate investment trust, has priced an offering of $1 billion of senior unsecured notes.The offering consisted of $300 million of floating-rate notes due 2008, $300 million of 5.95% notes due 2011, and $400 million of 6.30% notes due 2016. The floating-rate notes were priced at 100.0, the 5.95% notes were priced at 99.971, and the 6.30% notes were priced at 99.877. The net proceeds will be used to fund a portion of the cash needed for its proposed merger with CNL Retirement Properties Inc., the REIT said. The joint book-running lead managers for the offering were Barclays Capital Inc. and J.P. Morgan Securities Inc. The REIT can be found online at http://www.hcpi.com.
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