Rexford Industrial Realty, Inc. (REXR): debt financing — Rexford Industrial prices $1.15B exchangeable senior notes and forward equity sale

Rexford Industrial Realty, Inc.

Issued $575M of 4.375% exchangeable senior notes due 2027 and $575M of 4.125% notes due 2029, including full over-allotment exercise.
Initial exchange rate 15.7146 shares per $1,000 principal for both series (exchange price ~$63.64/share).
Entered forward sale agreement for up to 17.2M common shares at $48.95/share, settlement by March 27, 2025.
Proceeds to fund acquisitions, development/repositioning activities, and general corporate purposes.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

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

Rexford Industrial Realty, Inc. incurred convertible notes of $575,000,000 aggregate principal amount of its 4.375% Exchangeable Senior Notes due 2027 with U.S. Bank Trust Company, National Association at 4.375% per annum maturing March 15, 2027.

Instrument: convertible notes
Principal: $575,000,000 aggregate principal amount of its 4.375% Exchangeable Senior Notes due 2027
Counterparty: U.S. Bank Trust Company, National Association
Rate: 4.375% per annum
Maturity: March 15, 2027
Event: incurrence

Exact text from the filing

On March 28, 2024, Rexford Industrial Realty, L.P. (the “Operating Partnership”), the operating partnership of Rexford Industrial Realty, Inc. (the “Company”), issued $575,000,000 aggregate principal amount of its 4.375% Exchangeable Senior Notes due 2027

View on SEC.gov

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

Rexford Industrial Realty, Inc. incurred convertible notes of $575,000,000 aggregate principal amount of its 4.125% Exchangeable Senior Notes due 2029 with U.S. Bank Trust Company, National Association at 4.125% per annum maturing March 15, 2029.

Instrument: convertible notes
Principal: $575,000,000 aggregate principal amount of its 4.125% Exchangeable Senior Notes due 2029
Counterparty: U.S. Bank Trust Company, National Association
Rate: 4.125% per annum
Maturity: March 15, 2029
Event: incurrence

Exact text from the filing

and $575,000,000 aggregate principal amount of its 4.125% Exchangeable Senior Notes due 2029

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Rexford Industrial Realty, Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $575,000,000 aggregate principal amount of its 4.375% Exchangeable Senior Notes due 2027 and $575,00 (effective 2024-03-28).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $575,000,000 aggregate principal amount of its 4.375% Exchangeable Senior Notes due 2027 and $575,00
Effective: 2024-03-28

Exact text from the filing

On March 28, 2024, Rexford Industrial Realty, L.P. (the “Operating Partnership”), the operating partnership of Rexford Industrial Realty, Inc. (the “Company”), issued $575,000,000 aggregate principal amount of its 4.375% Exchangeable Senior Notes due 2027 (the “2027 Notes”) and $575,000,000 aggregate principal amount of its 4.125% Exchangeable Senior Notes due 2029 (the “2029 Notes” and, together with the 2027 Notes, the “Notes”)

View on SEC.gov

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

Rexford Industrial Realty, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-080556

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.