HCP Prices $300M of 3.15% Senior Unsecured Notes

HCP HCP priced an offering of $300 million of 3.15% senior unsecured notes due 2022. The offering size was increased in response to investor demand. The price to the investors was 98.888% of the principal amount of the notes for an effective yield of 3.28%. The net proceeds of the offering will be approximately $293.7 million, which will be used for general corporate purposes that may include the funding of future acquisitions or investments. The offering is expected to close on July 23, 2012, subject to customary closing conditions.