trending Market Intelligence /marketintelligence/en/news-insights/trending/y5dKOHs7SouBgaBMFixxhA2 content esgSubNav
In This List

Essential Properties Realty Trust launches common stock offering

Blog

Gauging Supply Chain Risk In Volatile Times

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Climate Credit Analytics: Diving into the model

Video

How to use ESG Heat Maps in Credit Risk Analysis


Essential Properties Realty Trust launches common stock offering

Essential Properties Realty Trust Inc. is selling 6,250,000 common shares in a public offering.

Based on the single-tenant net-lease real estate investment trust's Jan. 9 closing stock price of $25.47 per share and assuming the full exercise of the underwriters' 30-day option to buy up to 937,500 additional shares, the gross offering proceeds are expected to be about $183.1 million.

The REIT plans to use net proceeds to prepay about $62.0 million of its outstanding class A series 2017-1 ABS notes, to repay outstanding borrowings under its revolver and for general corporate purposes.

Barclays, BofA Securities and Citigroup are the joint book-running managers of the offering.