LTC Properties to Sell $30 Million in Bonds

LTC Properties Inc., a self-administered real estate trust based in Oxnard, said it will sell $30 million of 8.5% debentures due Jan. 1, 2000. The bonds are convertible into shares of common stock of the company at $15 per share.

The company, which invests in nursing homes and other health-care related facilities, said it will use the proceeds to repay borrowings.