American Assets sells $250 million of 4.29% 10-year guaranteed notes

By Devika Patel

Knoxville, Tenn., March 1 – The month began with one reported transaction in the private placement market on Wednesday.

San Diego real estate investment trust American Assets Trust, Inc.’s operating partnership American Assets Trust, LP placed $250 million of 4.29% 10-year series D senior guaranteed notes.

The notes may be redeemed in whole at par and in part, for at least 5% of the notes, with a make-whole call.

Proceeds will be used to refinance existing secured debt and for other general corporate purposes.

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