By Devika Patel
Knoxville, Tenn., Aug. 31 – Education Realty Operating Partnership, LP settled a $150 million private placement of senior unsecured notes on Aug. 31, according to an 8-K filed with the Securities and Exchange Commission.
The $75 million 12-year first-tranche note accrues interest at 4.22% per year.
The $75 million 15-year second-tranche note accrues interest at 4.3% per year.
Proceeds will be used to repay debt and for general corporate purposes.
Education Realty is a Memphis, Tenn., real estate investment trust focused on student housing communities located near university campuses.
| Issuer: | Education Realty Operating Partnership, LP
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| Issue: | Senior unsecured notes
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| Amount: | $150 million
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| Call: | Make-whole call
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| Settlement date: | Aug. 31
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| Distribution: | Private placement
|
|
|
| First tranche (series A)
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| Amount: | $75 million
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| Maturity: | Aug. 31, 2029
|
| Coupon: | 4.22%
|
|
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| Second tranche (series B)
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| Amount: | $75 million
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| Maturity: | Aug. 31, 2032
|
| Coupon: | 4.3%
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