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Equity Residential operating partnership prices $600M debt offering

Equity Residential operating partnership ERP Operating LP priced a $600.0 million public offering of 2.500% notes due Feb. 15, 2030, at 99.498%.

Interest on the notes will be payable semiannually on Feb. 15 and Aug. 15, starting Feb. 15, 2020.

The offering is expected to settle Aug. 27.

Net proceeds are expected to total approximately $593.1 million.

Barclays Capital Inc., BofA Securities Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities LLC are the joint book-running managers. Senior co-managers include PNC Capital Markets LLC, Regions Securities LLC, Scotia Capital (USA) Inc. and SunTrust Robinson Humphrey Inc., while co-managers are BNY Mellon Capital Markets LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc., SMBC Nikko Securities America Inc. and TD Securities (USA) LLC.