Chicago, March 23 – Empire State Realty Trust, Inc. issued $175 million of senior unsecured notes in two parts in a private placement, according to a notice.
The company issued $100 million of 3.61% series G senior notes due March 2032 and a tranche of $75 million 3.73% series H senior notes due March 2035.
The notes were issued to entities affiliated with Prudential Private Capital, MetLife Management Advisors, LLC, and AIG Asset Management.
The notes were part of financings, including bank loans, that added $300 million in net incremental cash proceeds to Empire State’s balance sheet at an all-in blended cost of 2.6%, or 3.6% inclusive of interest rate swap agreements, with a weighted average maturity of 8.1 years.
Based in New York, Empire is a real estate investment trust that owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area.
| Issuer: | Empire State Realty Trust, Inc.
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| Issue: | Senior unsecured notes
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| Amount: | $175 million
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| Distribution: | Private placement to entities affiliated with Prudential Private Capital, MetLife Management Advisors, LLC, and AIG Asset Management
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| Series G notes
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| Issue: | Series G notes
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| Amount: | $100 million
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| Maturity: | March 2032
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| Coupon: | 3.61%
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| Series H notes
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| Issue: | Series H notes
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| Amount: | $75 million
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| Maturity: | March 2035
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| Coupon: | 3.73%
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