By Sarah Lizee
Olympia, Wash., July 31 – Easterly Government Properties, Inc. completed a private placement of $275 million of fixed-rate senior notes in three tranches, according to a press release.
Closing is expected for Sept. 12.
The notes are being issued by Easterly Government Properties LP, the company’s operating partnership, in the following tranches:
• $85 million of 3.73% senior notes, series A, due Sept. 12, 2029;
• $100 million of 3.83% senior notes, series B, due Sept. 12, 2031; and
• $90 million of 3.98% senior notes, series C, due Sept. 12, 2034.
The weighted average maturity of the notes is 12.4 years, and the weighted average interest rate is 3.85%.
Easterly is a Washington, D.C.-based real estate investment trust focused on class A commercial properties leased to U.S. government agencies.
| Issuer: | Easterly Government Properties, LP
|
| Issue: | Senior notes
|
| Amount: | $275 million
|
| Announcement date: | July 31
|
| Settlement date: | Sept. 12
|
| Distribution: | Private placement
|
|
|
| Series A notes
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| Amount: | $85 million
|
| Maturity: | Sept. 12, 2029
|
| Coupon: | 3.73%
|
|
|
| Series B notes
|
| Amount: | $100 million
|
| Maturity: | Sept. 12, 2031
|
| Coupon: | 3.83%
|
|
|
| Series C notes
|
| Amount: | $90 million
|
| Maturity: | Sept. 12, 2034
|
| Coupon: | 3.98%
|
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