debt
confidence high
sentiment neutral
materiality 0.60
American Assets Trust prices $525M of 6.150% senior notes due 2034
American Assets Trust, Inc.
- $525M aggregate principal, priced at 99.671% of par; due October 1, 2034.
- Net proceeds: ~$100M to repay Series B notes, ~$100M to repay Series C notes, ~$100M to revolver borrowings.
- Closing expected September 17, 2024, subject to customary conditions.
- Notes are senior unsecured obligations of operating partnership, guaranteed by American Assets Trust.
- Joint book-running managers: Wells Fargo, Mizuho, PNC Capital Markets.