Agree Realty subsidiary issues USD 400 million 5.65% notes due 2036, backed by parent guarantee

Agree Realty priced a USD 400 million offering of 5.650% Notes due 2036 through its Agree Limited Partnership subsidiary.

• Underwriters bought the Notes at 97.847% of face value; interest starts April 15, 2027 with semiannual payments.
• The Notes rank as senior unsecured debt and are guaranteed by the parent and certain wholly owned subsidiaries.
• The Notes are redeemable before maturity at 100% or a make-whole amount; par redemption applies from July 15, 2036.
• The indenture adds debt-incurrence limits and unencumbered-asset requirements; cross-default triggers include over USD 50 million of other debt.