trending Market Intelligence /marketintelligence/en/news-insights/trending/HpiphCoQKioA8vmZ1cTo3Q2 content esgSubNav
In This List

Empire State Realty's operating partnership plans placement of $450M notes

Video

S&P Capital IQ Pro | Powering Your Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud


Empire State Realty's operating partnership plans placement of $450M notes

Empire State Realty Trust Inc.'s operating partnership, Empire State Realty OP LP, agreed to a private placement of $450 million worth of its senior unsecured notes.

The partnership will issue and sell the notes to affiliates of Prudential Capital Group, AIG Asset Management, MetLife Investment Advisors LLC, and Teachers Insurance and Annuity Association of America. The notes comprise $115 million of 4.08% series D senior notes due 2028, $160 million of 4.26% series E senior notes due 2030 and $175 million of 4.44% series F senior notes due 2033.

The sale and purchase of the series D notes is scheduled to close Dec. 22, according to a release. Closing for the remaining notes is slated for March 22, 2018.

Empire State Realty OP plans to use the net proceeds from the issuance to repay certain mortgage debt that is due in 2018, as well as for general corporate purposes.