LTC Properties, Inc. LTC revealed that it locked rate under a private shelf agreement with an insurance company on $40.0 million of senior unsecured notes with a coupon of 3.99 percent. According to the company, the notes would have an average 10-year life, scheduled principal payments and would mature in 2031.
LTC said it expects selling the notes on or about July 20, 2016. The company is a self-administered real estate investment trust that primarily invests in senior housing and long-term care properties through triple-net lease transactions, mortgage loans and other investments.
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