Essential Properties Plans $450 Million Exchangeable Notes Offering
Photo: TokenPost
Essential Properties Realty Trust Inc. plans a $450 million exchangeable-notes offering due in 2032, with net proceeds intended for capped-call transactions and repayment of revolving-credit borrowings. The trust’s operating partnership, Essential Properties, L.P., would issue the notes in a private offering to qualified institutional buyers under Rule 144A. The proposed sale is subject to market conditions. The notes would be senior unsecured obligations of the partnership, guaranteed on a senior unsecured basis by the trust. Initial purchasers are expected to have an option to buy up to $67.5 million more in notes.
Source: TokenPost
