Business & Finance
Fri, May 25, 2012 
TOLEDO, Ohio--([ BUSINESS WIRE ])--Health Care REIT, Inc. (NYSE:HCN) announced today that it has closed a $250 million Canadian denominated unsecured term loan (approximately USD $244 million). The loan is coterminous with the companyas USD $2.0 billion unsecured revolving credit facility and matures July 27, 2015 with an option to extend for an additional year at the companyas discretion.
The loan will serve as a natural currency hedge with respect to the companyas recently completed acquisition with Chartwell Seniors Housing REIT (TSX:CSH.UN) of 42 seniors housing and care communities in attractive Canadian markets.
Based on HCNas current credit ratings, the term loan initially bears interest at the Canadian Dollar bankeras acceptance rate plus 145 basis points. Health Care REIT has the option to increase the loan up to CAD $500 million through an accordion feature.
The term loan was arranged by J.P. Morgan Securities, LLC; Merrill Lynch, Pierce, Fenner & Smith Incorporated; and RBC Capital Markets. KeyBank National Association is the Administrative Agent.
About Health Care REIT. Health Care REIT, Inc., an S&P 500 company with headquarters in Toledo, Ohio, is a real estate investment trust that invests across the full spectrum of seniors housing and health care real estate. The company also provides an extensive array of property management and development services. As of March 31, 2012, the companyas broadly diversified portfolio consisted of 956 properties in 46 states. More information is available on the company's website at [ www.hcreit.com ].
