LTC Properties : Locks Rate on $40 Million Senior Unsecured Notes
June 14, 2016 at 09:31 am EDT
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LTC Properties, Inc. (NYSE: LTC) announced today that it locked rate
under a private shelf agreement with an insurance company on
$40.0 million of senior unsecured notes with a coupon of 3.99%. The
notes will have an average 10-year life, scheduled principal payments
and will mature in 2031. LTC anticipates selling the notes on or about
July 20, 2016.
LTC is a self-administered real estate investment trust that primarily
invests in senior housing and long-term care properties through
triple-net lease transactions, mortgage loans and other investments. For
more information on LTC Properties, Inc., visit the Company’s website at www.LTCreit.com.
This press release includes statements that are not purely historical
and are “forward looking statements” within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
regarding the Company’s expectations, beliefs, intentions or strategies
regarding the future. All statements other than historical facts
contained in this press release are forward looking statements. These
forward looking statements involve a number of risks and uncertainties.
All forward looking statements included in this press release are based
on information available to the Company on the date hereof, and the
Company assumes no obligation to update such forward looking statements.
Although the Company’s management believes that the assumptions and
expectations reflected in such forward looking statements are
reasonable, no assurance can be given that such expectations will prove
to have been correct. The actual results achieved by the Company may
differ materially from any forward looking statements due to the risks
and uncertainties of such statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160614005387/en/
LTC Properties, Inc. is a real estate investment trust (REIT). The Company invests in seniors housing and health care properties through sale-leasebacks, mortgage financing, joint ventures, construction financing and structured finance solutions including preferred equity, and mezzanine lending. It invests in various properties, including skilled nursing centers (SNF), which provides restorative, rehabilitative and nursing care; Assisted living facilities (ALF), which serves people who require assistance with activities of daily living; Independent living facilities (ILF), also known as retirement communities or senior apartments, offers a community and numerous levels of service, such as laundry, housekeeping, dining options/meal plans, exercise and wellness programs, transportation, social, cultural and recreational activities, on-site security, and others, and Memory care facilities (MC), offers specialized options for people with Alzheimerâs disease and other forms of dementia.