Ventas Closes Extended and Improved $2.75 Billion Unsecured Credit Facility

April 24, 2024 at 16:14 PM EDT

Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) today announced that it closed an extended and improved $2.75 billion unsecured revolving credit facility (the “Credit Facility”). The maturity date of the Credit Facility was extended to April 2028 and pricing was improved by five basis points compared to Ventas’s previous unsecured revolving credit facility.

“The successful closing of our credit facility further strengthens our liquidity, extends our debt maturities and lowers our borrowing costs,” said Robert F. Probst, Ventas Executive Vice President and Chief Financial Officer. “The facility’s significant oversubscription underscores our portfolio’s advantaged position with durable demographic demand and our strong business outlook amid an unprecedented multiyear growth opportunity in senior housing. We appreciate the support of our valued banking partners and their confidence in our business.”

At closing, the new Credit Facility was substantially undrawn, providing the Company with nearly $2.75 billion of available borrowing capacity.

The Credit Facility is initially priced at 77.5 basis points over SOFR, based on the Company’s debt ratings. The maturity date of the Credit Facility can be extended for an additional year to April 2029 at the Company’s option, subject to the satisfaction of certain conditions. The Credit Facility also includes a $1 billion “accordion feature” that permits the Company to expand its borrowing capacity to a total of $3.75 billion.

BofA Securities, Inc., JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC were the joint bookrunners for the Credit Facility. Bank of America, N.A. is serving as the Administrative Agent, and JPMorgan Chase Bank, N.A. and Wells Fargo Bank, N.A. acted as the Syndication Agents.

About Ventas

Ventas, Inc. (NYSE: VTR) (the “Company”) is a leading S&P 500 real estate investment trust focused on delivering strong, sustainable shareholder returns by enabling exceptional environments that benefit a large and growing aging population. The Company’s growth is fueled by its senior housing communities, which provide valuable services to residents and enable them to thrive in supported environments. Ventas leverages its unmatched operational expertise, data-driven insights from its Ventas Operational Insights^TM platform, extensive relationships and strong financial position to achieve its goal of delivering outsized performance across approximately 1,400 properties. The Ventas portfolio is composed of senior housing communities, outpatient medical buildings, research centers and healthcare facilities in North America and the United Kingdom. The Company benefits from a seasoned team of talented professionals who share a commitment to excellence, integrity and a common purpose of helping people live longer, healthier, happier lives.