By Andrea Heisinger and Aleesia Forni
New York, Jan. 7 - Kilroy Realty LP sold an upsized $300 million of 3.8% 10-year senior notes (Baa3/BBB-/) on Monday to yield Treasuries plus 190 basis points, a market source said.
The size of the sale was increased from $250 million.
Pricing was at 99.967 to yield 3.804%.
J.P. Morgan Securities LLC, Barclays, Wells Fargo Securities LLC and Bank of America Merrill Lynch were the bookrunners.
The notes are guaranteed by Kilroy Realty Corp.
Proceeds will be used for general corporate purposes, including acquiring properties, funding development and redevelopment projects and repaying outstanding debt.
Kilroy is a Los Angeles-based real estate investment trust.
| Issuer: | Kilroy Realty LP
|
| Guarantor: | Kilroy Realty Corp.
|
| Issue: | Senior notes
|
| Amount: | $300 million, upsized from $250 million
|
| Maturity: | Jan. 15, 2023
|
| Bookrunners: | J.P. Morgan Securities LLC, Barclays, Wells Fargo Securities LLC, Bank of America Merrill Lynch
|
| Coupon: | 3.8%
|
| Price: | 99.967
|
| Yield: | 3.804%
|
| Spread: | Treasuries plus 190 bps
|
| Trade date: | Jan. 7
|
| Settlement date: | Jan. 14
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
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