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VEREIT operating partnership prices $550M senior notes offering

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VEREIT operating partnership prices $550M senior notes offering

VEREIT Inc.'s operating partnership priced a $550 million offering of 4.625% senior notes due 2025 at 99.328% of par value.

The single-tenant real estate investment trust said the offering is slated to close Oct. 16.

VEREIT Operating Partnership LP aims to use the net proceeds to repay borrowings under its revolving credit facility contemporaneously with, or shortly after, the closing of the offering.

Wells Fargo Securities LLC, BMO Capital Markets Corp., J.P. Morgan Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc., SMBC Nikko Securities America Inc., U.S. Bancorp Investments Inc., Barclays Capital Inc., Capital One Securities Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and Regions Securities LLC are the joint book-running managers.

BNY Mellon Capital Markets LLC, KeyBanc Capital Markets Inc., Comerica Securities Inc., Janney Montgomery Scott LLC and FTN Financial Securities Corp. are the co-managers for the offering of the notes.