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Welltower closes inaugural green bond offering

Ohio-based Welltower has announced that it has successfully closed its first green bond offering of US$500m of senior notes due February 2027. 

The proceeds will be used to fund renewable energy, water conservation, energy efficiency, and green building projects in compliance with the company’s Green Bond Framework, which was reviewed and verified by Sustainalytics, a global independent provider of environment, social and governance (ESG) research and ratings. Pending such use, the proceeds will be used to repay advances under the Company’s unsecured credit facility.  Welltower is the first US healthcare real estate investment trust to complete a public green bond offering.

Wells Fargo, Deutsche Bank and Credit Agricole served as joint book-running managers for the offering.

“Welltower recognises the importance of environmental challenges and our responsibility to our partners, residents and shareholders to be a strong corporate advocate for best ESG practices,” said Thomas J. DeRosa, Welltower’s chairman and CEO.  “We believe this inaugural green bond offering rounds out what has been a year of very significant ESG achievements at Welltower and is an indication of the strength of our commitment going forward.”

 

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