HCP Prices $450 Million of 3.75% Senior Unsecured Notes

HCP

priced an offering of $450 million of 3.75% senior unsecured notes due 2019. The offering size was increased in response to investor demand. The price to the investors was 99.523% of the principal amount of the notes for an effective yield of 3.83%. The net proceeds of the offering will be approximately $443.7 million, which will be used to repay borrowings under HCP's revolving credit facility and for general corporate purposes.