Phillips Edison & Company, Inc. (PECO): debt financing — Phillips Edison & Co subsidiary issues $350M of 5.75% Senior Notes due 2034

Phillips Edison & Company, Inc.

$350M aggregate principal of 5.750% Senior Notes due 2034 issued by OP subsidiary; fully guaranteed by PECO.
Net proceeds of ~$341.5M after underwriting discount and fees; purchase price 97.926% of principal.
Interest payable Jan 15 and Jul 15; maturity July 15, 2034; make-whole redemption prior to Apr 15, 2034, then par.
Proceeds intended for general corporate purposes, including repaying revolver borrowings and funding property acquisitions.

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

Phillips Edison & Company, Inc. incurred senior notes of $350,000,000 aggregate principal amount at 5.750% per annum maturing July 15, 2034.

Instrument: senior notes
Principal: $350,000,000 aggregate principal amount
Rate: 5.750% per annum
Maturity: July 15, 2034
Event: incurrence

Exact text from the filing

On May 13, 2024, Phillips Edison Grocery Center Operating Partnership I, L.P. (the “Issuer”), a Delaware limited partnership and subsidiary of Phillips Edison & Company, Inc. (the “Guarantor”), completed an underwritten public offering of $350,000,000 aggregate principal amount of its 5.750% Senior Notes due 2034 (the “Notes”).

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Phillips Edison & Company, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-137199

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