LTC Announces $85.8 Mln Private Placement Debt Financing

LTC Properties Prices Public Offering Of 3.50 Mln Shares At $44.50/shr

LTC Properties Q1 13 Earnings Conference Call At 10:00 AM ET

LTC Properties To Present At Sidoti Investor Forum ; Webcast At 11:20 AM ET

Trade LTC now with

7/23/2012 12:44 PM ET

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

Quick Facts

<<Previous 93 Articles Next>>

Editors Pick

Fed Concerns Contribute To Lackluster Session On Wall Street - U.S. Commentary

There was a mixed performance on Wall Street on Friday. Shares suffered an early decline, as investors continued to express worries about the Federal Reserve. A recovery through the rest of the day allowed the Dow to edge into positive territory by the close. The Nasdaq and S&P 500 posted fractional losses.

Stocks Come Under Pressure Amid Worries About The Fed - U.S. Commentary

Stocks have shown a notable move to the downside in early trading on Friday amid lingering concerns about the outlook for the Federal Reserve's asset purchase program. The major averages have slid firmly into negative territory, adding to the modest losses posted in the previous session. The major averages are currently posting notable losses, near their lows for the young session.

U.S. Durable Goods Orders Rise 3.3% In April, More Than Expected

After reporting a sharp drop in new orders for manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than anticipated in the month of April. The report said durable goods orders surged up by 3.3 percent in April after tumbling by a revised 5.9 percent in March.