Essential Properties Realty Trust plans $450 million exchangeable senior notes offering
EPRT•Essential Properties Realty Trust plans to offer $450 million of exchangeable senior notes due 2032, with an option for initial purchasers to buy an additional $67.5 million. Net proceeds will fund capped call transactions and reduce borrowings under its revolving credit facility.
1. Planned notes offering
Essential Properties Realty Trust plans to issue $450 million of exchangeable senior notes due January 15, 2032, through its operating partnership. Initial purchasers may buy an additional $67.5 million, which could bring the total offering to $517.5 million. The company will fully and unconditionally guarantee the notes. Proceeds will fund capped call transactions and reduce revolving credit facility borrowings; the interest rate and initial exchange rate will be set at pricing.
