HCP, Inc. (HCP: Quote) announced that it has agreed to sell 7.80 million shares of its common stock to Citigroup, as sole underwriter, in an underwritten public offering.
The company stated that it will use the net proceeds from this offering to repay indebtedness, including $250 million aggregate principal amount of its 6.45% Senior Notes at maturity on June 25, 2012, and to use the remaining net proceeds for general corporate purposes that may include the funding of future acquisitions or investments.
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by RTT Staff Writer
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