The Associated Press September 7, 2010, 5:49PM ET

Health Care REIT prices $450M notes offering

Health Care REIT Inc. said Tuesday that it priced a public offering of $450 million in 4.7 percent notes due Sept. 15, 2017.

The real estate investment trust priced the notes at 99.71 percent of their face amount to yield 4.749 percent.

The offering is expected to close Sept. 10.

The company said it intends to use the net proceeds from the offering to pay for corporate expenses, including investing in health care and senior housing properties and repaying debt.

Barclays Capital Inc., J.P. Morgan Securities LLC and UBS Securities LLC are the joint book-running managers for the offering.

Shares in Health Care REIT fell 64 cents to $47.11 on Tuesday.

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