By Lisa Kerner
Charlotte, N.C., Sept. 2 – Terreno Realty Corp. privately placed $100 million of senior unsecured notes (//BBB-).
The company issued $50 million of seven-year 4.23% senior notes on Sept. 1.
Terreno expects to issue $50 million of 12-year 4.65% senior notes on or around Oct. 13, according to a news release.
Proceeds will be used to fund future acquisitions, to pay down existing loans and for other corporate purposes.
KeyBanc Capital Markets and MUFG acted as joint-lead placement agents for the offering.
The notes have not been registered under the Securities Act of 1933, as amended, and were offered and sold in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act.
San Francisco-based Terreno is an acquirer, owner and operator of industrial real estate.
| Issuer: | Terreno Realty Corp.
|
| Issue: | Senior unsecured notes
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| Amount: | $100 million
|
| Distribution: | Private placement
|
| Agents: | KeyBanc Capital Markets and MUFG
|
| Announcement date: | Sept. 2
|
| Rating: | Fitch: BBB-
|
|
|
| Amount: | $50 million
|
| Coupon: | 4.23%
|
| Maturity: | Seven years
|
| Settlement date: | Sept. 1
|
|
|
| Amount: | $50 million
|
| Coupon: | 4.65%
|
| Maturity: | 12 years
|
| Settlement date: | Oct. 13
|
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