LTC Properties, Inc. (LTC: Quote) said Monday that it entered into a private placement of 12-year senior unsecured notes in the aggregate amount of $85.8 million to a group of institutional investors.
The Notes bear interest at 5.03%, mature on July 19, 2024 and have scheduled annual principal pay downs of about $17.2 million in years 8 through 12.
The company said it has used a portion of the proceeds to pay down its unsecured revolving line of credit and expects to use the remaining proceeds for general corporate purposes including acquisitions.
Click here to receive FREE breaking news email alerts for LTC Properties and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Business News