trending Market Intelligence /marketintelligence/en/news-insights/trending/ppkzki8u7qgbon-bhyweag2 content esgSubNav
In This List

Essex Property Trust prices $300M of senior notes

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Essex Property Trust prices $300M of senior notes

Essex Property Trust Inc.'s operating partnership, Essex Portfolio LP, priced $300 million of 4.500% senior notes due March 15, 2048, at 99.591% of par value with a yield to maturity of 4.525%.

Interest on the notes is payable semiannually every March 15 and Sept. 15, with the first payment due Sept. 15. Offering of the notes is expected to close March 8, subject to certain closing conditions.

Proceeds from the offering will be used to repay debt under the multifamily real estate investment trust's unsecured line of credit facilities and for general corporate purposes.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., U.S. Bancorp Investments Inc., Wells Fargo Securities LLC, Jefferies LLC and MUFG Securities Americas Inc. are the joint book-running managers of the issuance, while Barclays Capital Inc., BB&T Capital Markets, BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and Mizuho Securities USA LLC are serving as senior co-managers. Capital One Securities Inc., Regions Securities LLC and Scotia Capital (USA) Inc. are the co-managers of the offering.