Easterly Government Properties Inc. wound up a private offering of its fixed rate senior unsecured notes worth $175 million on May 25.
The notes, which were offered in three tranches by the company's operating partnership, Easterly Government Properties LP, have a weighted average maturity of 11.4 years and weighted average interest rate of 4.12%.
The notes consist of $95.0 million of 4.05% senior notes due 2027, $50.0 million of 4.15% senior notes due 2029 and $30.0 million of 4.30% senior notes due 2032.
Easterly Government plans to use the net proceeds to repay outstanding debts under its revolving credit facility and for general corporate purposes.
Citigroup was the sole placement agent for the offering.