W.P. Carey to pay down revolving credit facility with note proceeds

By Tali Rackner

Norfolk, Va., Sept. 7 – W.P. Carey Inc. plans to repay amounts outstanding under its senior unsecured revolving credit facility using proceeds from a new senior note offering, according to a 424B5 filing with the Securities and Exchange Commission.

As of Aug. 30, there was about $742 million outstanding under the facility, which matures on Jan. 31, 2018.

Proceeds will also be used for general corporate purposes.

New York-based W.P. Carey is a publicly traded real estate investment trust that provides long-term sale-leaseback and built-to-suit financing.

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