LTC Properties, Inc. LTC announced today that it entered into a private placement of 12-year senior unsecured notes (the “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 approximately $17.2 million in years 8 through 12. The Company 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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in