- Ventas (NYSE:VTR) commits $700M to a subsidiary of Ardent Health Services to support its agreement to purchase LHP Hospital Group. The acquisition is expected to close in Q1 next year.
- The five-year Libor-based loan will have an initial interest rate of 8%. Ventas expects the loan to be accretive to 2017 normalized FFO on a leverage neutral basis.
- Ventas owns about all of Ardent's current real estate, along with a 9.9% equity stake in the company.