By Aleesia Forni
Virginia Beach, April 8 - Essex Portfolio LP priced $400 million of 3.875% 10-year senior notes at 99.234 to yield 3.968% on Tuesday, according to a company news release.
The notes were sold in a Rule 144A and Regulation S transaction.
The company expects to use the proceeds to refinance existing senior unsecured debt and for general corporate purposes.
Based in Palo Alto, Calif., Essex Portfolio is subsidiary of real estate investment trust Essex Property Trust Inc.
| Issuer: | Essex Portfolio LP
|
| Amount: | $400 million
|
| Description: | Senior notes
|
| Maturity: | May 1, 2024
|
| Coupon: | 3.875%
|
| Price: | 99.234
|
| Yield: | 3.968%
|
| Trade date: | April 8
|
| Settlement date: | April 15
|
| Distribution: | Rule 144A, Regulation S
|
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