Unsecured credit

Ventas signs new $ 2.75 billion unsecured credit facility


CHICAGO–(COMMERCIAL THREAD) – Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) today announced that it has entered into a new four-year, $ 2.75 billion unsecured credit facility (the “ credit “). The credit facility was significantly oversubscribed, with the strong support of 24 new and existing financial institutions.

“The successful completion of this transaction by Ventas strengthens our abundant liquidity, extends our debt maturities and improves our borrowing costs,” said Robert F. Probst, executive vice president and chief financial officer of Ventas. “We appreciate the enthusiastic support of our valued banking partners and their confidence in our firm, our future and the quality of our platform,” he added.

The credit facility is initially valued at 82.5 basis points against LIBOR, based on the Company’s debt ratings, a five basis point improvement over the price of its previous non-revolving credit facility. guarantee, which was due to expire in April 2021. The maturity date of the credit facility The facility is in January 2025 and may be extended for an additional year at the option of the Company, subject to the satisfaction of certain conditions .

At closing, the new credit facility was virtually unused, providing the Company with available borrowing capacity of nearly $ 2.7 billion.

The credit facility also includes a $ 1 billion “accordion feature” which allows the company to expand its borrowing capacity to a total of $ 3.75 billion. Underlining the Company’s commitment to environmental, social and governance (ESG) leadership, the credit facility includes a reduction in borrowing costs based on the achievement of specific measures related to sustainable development.

BofA Securities, Inc. and JPMorgan Chase Bank, NA were the associated bookkeepers for the credit facility. Bank of America, NA is acting as administrative agent, and JPMorgan Chase Bank, NA is acting as syndication agent.

About Ventas

Ventas, an S&P 500 company, operates at the intersection of two powerful and dynamic industries: healthcare and real estate. As one of the largest real estate investment companies (REITs) in the world, we use the power of capital to unlock real estate value, partnering with healthcare providers, developers, research institutions and medical, innovators and leading healthcare organizations whose success is supported by the demographic tailwind of an aging population. For over twenty years, Ventas has followed a successful and enduring strategy: combining a diverse portfolio of high quality properties and sources of capital to be managed across cycles, working with industry-leading partners and a collaborative and experienced team focused on the constantly growing liquidity generation. superior flows and returns on a strong balance sheet, ultimately rewarding Ventas shareholders. As of September 30, 2020, Ventas owned or managed through unconsolidated joint ventures approximately 1,200 properties.



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