IRVINE, Calif., Sept. 18, 2019 /PRNewswire/ -- HCP, Inc.
(NYSE: HCP) announced today that it has established an unsecured
commercial paper program (the "Commercial Paper Program").
Under the terms of the Commercial Paper Program, HCP may issue,
from time to time, unsecured short-term debt securities with
varying maturities not in excess of 397 days from the date of issue
(the "Notes"). Amounts available under the Commercial Paper
Program may be borrowed, repaid and re-borrowed from time to time,
with the maximum aggregate face or principal amount of Notes
outstanding at any one time not exceeding $1.0 billion. The Notes will be sold on terms
that are customary for the United
States commercial paper market and will be at least equal in
right of payment with all of HCP's other unsecured and
unsubordinated indebtedness. The proceeds of the Notes will be used
for general corporate purposes. HCP expects to use its
revolving credit facility as a liquidity backstop for the repayment
of the Notes issued under the Commercial Paper Program.
The Notes to be offered under the Commercial Paper Program have
not been and will not be registered under the Securities Act of
1933, as amended, or state securities laws, and may not be offered
or sold in the United States absent registration or an
applicable exemption from registration requirements. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy the notes under the Commercial Paper
Program.
About HCP
HCP, Inc. is a fully integrated real estate investment trust
(REIT) that invests primarily in real estate serving the healthcare
industry in the United States. HCP owns a large-scale
portfolio diversified across multiple sectors, led by senior
housing, life science and medical office. Recognized as a
global leader in sustainability, HCP has been a publicly-traded
company since 1985 and was the first healthcare REIT selected to
the S&P 500 index. For more information regarding HCP,
visit www.hcpi.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of federal securities laws and regulations. These
forward-looking statements are identified by their use of terms and
phrases such as "may," "will," "believe," "expect," "intend,"
"project," "anticipate," "position," and other similar terms and
phrases, including references to assumptions and forecasts of
future results. Forward-looking statements are not guarantees
of future performance and involve known and unknown risks,
uncertainties and other factors which may cause the actual results
to differ materially from those anticipated at the time the
forward-looking statements are made. These risks and
uncertainties include, but are not limited to, HCP's ability to
complete the issuance and sale of the Notes, that the proceeds from
the sales may not be deployed as anticipated, the availability of
HCP's revolving credit facility to serve as a liquidity backstop,
and other risks and uncertainties described in our filings with the
Securities and Exchange Commission. Although HCP believes the
expectations reflected in such forward-looking statements are based
upon reasonable assumptions, HCP can give no assurance that the
expectations will be attained or that any deviation will not be
material. All information in this release is as of the date
of this release, and HCP undertakes no obligation to update any
forward-looking statement to conform the statement to actual
results or changes in its expectations, except as required by
law.
Contact
Andrew Johns
Vice President – Finance and Investor Relations
(949) 407-0400
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SOURCE HCP, Inc.