Ventas prices Cdn$600M 5.398% senior notes due 2028 and announces Santerre mezzanine loan conversion to equity

Ventas, Inc.

Priced Cdn$600M of 5.398% Senior Notes, Series I due 2028; expected close April 21, 2023.
Launched tender offers for up to Cdn$500M aggregate of 2.80% Series E 2024 and 4.125% Series B 2024 notes.
Net proceeds from notes used to fund tender offers; balance for working capital or debt repayment.
Intends to take ownership of Santerre Portfolio via loan-to-own; no additional consideration; expects Q2 2023.
Santerre mezzanine loan ~$486M; ownership subject to ~$1B senior loan maturing June 2023 with right to extend.

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