HCP Enters into Agreement to Sell 7,800,000 Shares

HCP

today announced that it has agreed to sell 7,800,000 shares of its common stock to Citigroup, as sole underwriter, in an underwritten public offering. HCP intends to use the net proceeds from this offering to repay indebtedness, including $250 million aggregate principal amount of its 6.45% Senior Notes at maturity on June 25, 2012, and to use the remaining net proceeds for general corporate purposes that may include the funding of future acquisitions or investments.