Essex Portfolio plans to price fixed-rate guaranteed notes

By Devika Patel

Knoxville, Tenn., Feb. 22 – Essex Portfolio, LP is expected to price an offering of fixed-rate guaranteed senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Essex Property Trust, Inc.

The notes have a make-whole call and are then redeemable at par.

The bookrunners are Wells Fargo Securities LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc.

Proceeds will be used to repay upcoming debt maturities and for other general corporate and working capital purposes.

Based in Palo Alto, Calif., Essex Portfolio is a real estate investment trust.

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