Ventas Announces Pricing of its Tender Offers for 2.80% Senior Notes Due 2024 and 4.125% Senior Notes Due 2024 - Seite 2

Acceptance Priority Level

Title of Notes

CUSIP / ISIN
Nos.

Principal
Amount
Outstanding
(in millions)⁽¹⁾

Canadian
Reference
Security

Reference
Yield

Fixed
Spread
(basis points)⁽²⁾

Full Tender
Offer
Consideration⁽³⁾

Principal
Amount
Tendered as of
the Early Tender
Time

Proration
Factor

1

2.80% Senior Notes, Series E due 2024

92277LAF3 / CA92277LAF37

Cdn$600

2.25% Government of Canada Bond Due March 1, 2024

4.426%

+90 bps

Cdn$976.48

Cdn$526,963,000

100%

2

4.125% Senior Notes, Series B due 2024

92277LAB2 / CA92277LAB23

Cdn$250

2.50% Government of Canada Bond due June 1, 2024

4.237%

+100 bps

Cdn$984.82

Cdn$191,935,000

~45.2%

⁽¹⁾ Principal amount outstanding prior to the commencement of the Offers.

⁽²⁾ Includes the Early Tender Payment of Cdn$30 per Cdn$1,000 principal amount of Notes for each Series (the “Early Tender Payment”).

⁽³⁾ Per Cdn$1,000 principal amount of Notes that are accepted for purchase.

The Offers are subject to the satisfaction or waiver by the Issuer of a number of conditions as described in the Offer to Purchase, including the Financing Condition. The Financing Condition for the Offers as described in the Offer to Purchase is expected to be satisfied on April 21, 2023.

The Offers expire at 5:00 p.m., Toronto time, on May 1, 2023, unless extended or earlier terminated by the Issuer. However, the Notes validly tendered and not validly withdrawn prior to the Early Tender Time have an aggregate purchase price which exceeds the Maximum Aggregate Purchase Price and the Issuer does not intend to further increase the Maximum Aggregate Purchase Price. Therefore, the Issuer will not accept for purchase any Notes validly tendered after the Early Tender Time.