By Lisa Kerner
Charlotte, N.C., Aug. 28 - EastGroup Properties, Inc. closed the private placement issuance of $100 million of senior notes at a fixed interest rate of 3.8%.
The notes require semiannual interest payments with principal payments of $30 million on Aug. 30, 2020, $50 million on Aug. 30, 2023 and $20 million on Aug. 30, 2025, according to the company's news release.
EastGroup said the maturity dates complement its existing debt maturity schedule.
The notes will not be and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
EastGroup Properties is a self-administered equity real estate investment trust based in Jackson, Miss.
| Issuer: | EastGroup Properties, Inc.
|
| Issue: | Senior notes
|
| Amount: | $100 million
|
| Maturity: | Aug. 30, 2025
|
| Coupon: | 3.8%
|
| Announcement date: | Aug. 28
|
| Distribution: | Private placement
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
