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Terreno Realty launches $100M senior unsecured notes offering

Terreno Realty Corp. launched a private placement of $100 million of 3.75% seven-year senior unsecured notes and a share repurchase program to redeem all of its outstanding 7.75% series A cumulative redeemable preferred stock.

Meanwhile, the company is to redeem 1,840,000 outstanding shares of its series A preferred stock at $25.00 per share, plus accrued and unpaid dividends per share, worth roughly 9.6 cents.

The private placement is slated to close by July 14, while the company aims to redeem all of its outstanding preferred stock July 19.

Jefferies LLC and Regions Securities LLC served as joint-lead placement agents for the offering.