Healthcare: HCP Closes $441 Million Equity Offering
LONG BEACH, Calif., Aug 10, 2009 (BUSINESS WIRE) —-HCP (NYSE:HCP) announced that it has successfully completed its $441 million public offering of 17.8 million shares of common stock at a price per share of $24.75, which includes 2.3 million shares sold to the underwriters upon exercise of their option to purchase additional shares. HCP will use the proceeds to repay all borrowings under HCP’s revolving credit facility, including borrowings for the recently announced participation in first mortgage debt of HCR ManorCare, with the remainder to be used for general corporate purposes.
About HCP
HCP, Inc., an S&P 500 company, is a real estate investment trust (REIT) that, together with its consolidated subsidiaries, invests primarily in real estate serving the healthcare industry in the United States. As of June 30, 2009, HCP’s portfolio of properties, excluding assets held for sale but including properties owned by unconsolidated joint ventures, totaled 682 properties among the following segments: 259 senior housing, 100 life science, 253 medical office, 22 hospital and 48 skilled nursing. For more information, visit the Company’s website at www.hcpi.com.
SOURCE: HCP, Inc.
HCP
Thomas M. Herzog
Executive Vice President – Chief Financial Officer and Treasurer
562-733-5309
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As of Thursday, 08-06-2009 23:59, the latest Comtex SmarTrend Alert,
an automated pattern recognition system, indicated an UPTREND on
12-08-2008 for HCP @ $23.50.
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