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Essex Portfolio pricing $300 million 10-year notes on Monday
By Aleesia Forni
New York, April 4 – The Essex Portfolio, LP is set to price a $300 million offering of 10-year senior notes (Baa2/BBB) on Monday, according to a market source and a 424B5 filed with the Securities and Exchange Commission.
The bookrunners are Wells Fargo Securities LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, MUFG, U.S. Bancorp Investments Inc. and Jefferies.
The notes will be guaranteed by Essex Property Trust, Inc.
Proceeds will be used to repay debt under the company’s $1 billion unsecured line-of-credit facility and $25 million unsecured working capital line-of-credit facility, 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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