ESSEX PORTFOLIO LP: debt financing — Essex issues $350M 5.500% senior notes due 2034 to refinance maturing debt

ESSEX PORTFOLIO LP

Issued $350M aggregate principal amount of 5.500% senior notes due April 1, 2034.
Net proceeds of approximately $346.5M after underwriting discount and expenses.
Proceeds to repay 3.875% notes maturing May 2024 and for general corporate purposes.
Notes are unsecured senior obligations, guaranteed by Essex Property Trust, Inc.
Redeemable at Treasury rate plus 25 bps prior to Jan 1, 2034, thereafter at par.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ESSEX PORTFOLIO LP incurred senior notes of $350.0 million with U.S. Bank Trust Company, National Association at 5.500% per annum maturing April 1, 2034.

Instrument: senior notes
Principal: $350.0 million
Counterparty: U.S. Bank Trust Company, National Association
Rate: 5.500% per annum
Maturity: April 1, 2034
Event: incurrence

Exact text from the filing

On March 14, 2024, the Operating Partnership issued $350.0 million aggregate principal amount of Notes.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ESSEX PORTFOLIO LP entered into 5.500% Senior Notes due 2034 Indenture with U.S. Bank Trust Company, National Association valued at $350,000,000 (effective 2024-03-14).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $350,000,000
Effective: 2024-03-14

Exact text from the filing

On March 14, 2024, Essex Portfolio, L.P. (the “Operating Partnership”), the operating partnership of Essex Property Trust, Inc. (the “Company”), issued $350.0 million aggregate principal amount of its 5.500% senior notes due 2034 (the “Notes”).

View on SEC.gov

299 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001140361-24-013247

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.