The operating partnership of residential real estate investment trust Equity Residential plans to issue $500 million worth of 3.500% notes due March 1, 2028, in a public offering.
Interest payments on the underwritten securities will be payable semiannually in arrears on March 1 and Sept. 1, starting Sept. 1.
The company expects net proceeds from the offering of around $493.8 million.
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and UBS Securities LLC will lead the syndicate of underwriters, which also includes Barclays Capital Inc., BNY Mellon Capital Markets LLC, Mizuho Securities USA LLC, Scotia Capital (USA) Inc., BB&T Capital Markets, Fifth Third Securities Inc., Regions Securities LLC and SMBC Nikko Securities America.
