American Assets to repay credit facility via private placement notes

By Marisa Wong

Morgantown, W.Va., July 19 – American Assets Trust, Inc. said it will repay credit facility borrowings using proceeds from a private placement of notes.

The company announced that its operating partnership, American Assets Trust, LP, closed a private placement of $100 million of seven-year senior guaranteed notes, series F, with a 3.78% coupon.

Proceeds will also be used for general corporate purposes.

American Assets is a San Diego-based real estate investment trust focused on retail, office and residential properties, primarily in Southern California, Northern California, Oregon, Washington and Hawaii.

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