Welltower OP LLC: debt financing — Welltower OP LLC issues $1.035B of 2.750% exchangeable senior notes due 2028

Welltower OP LLC

Welltower OP LLC issued $1.035 billion aggregate principal amount of 2.750% Exchangeable Senior Notes due May 15, 2028.
Notes are exchangeable into Welltower Inc. common stock at an initial rate of 10.4808 shares per $1,000 principal (exchange price ~$95.41).
Proceeds will be used for general corporate purposes, including repayment of 4.500% notes due Jan 2024 and 3.625% notes due Mar 2024.
The notes are fully and unconditionally guaranteed by Welltower Inc. on a senior unsecured basis.
The offering included full exercise of initial purchasers' option to acquire additional notes.

item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Welltower OP LLC incurred convertible notes of $1,035,000,000 at 2.750% per year maturing May 15, 2028.

Instrument: convertible notes
Principal: $1,035,000,000
Rate: 2.750% per year
Maturity: May 15, 2028
Event: incurrence

Exact text from the filing

On May 11, 2023, Welltower OP LLC (the “Issuer”), the operating company through which Welltower Inc. (the “Company”) conducts all of its business, issued $1,035,000,000 principal amount of its 2.750% Exchangeable Senior Notes due 2028 (the “Notes”), which amount includes $135,000,000 principal amount of the Notes pursuant to the exercise in full by the initial purchasers of their option to acquire additional Notes.

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Source: SEC EDGAR

accession 0001193125-23-142169

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