Published on 8/21/2020 in the Prospect News Private Placement Daily.
New Issue: EastGroup to place $175 million 2.61% 10-year note, 2.71% 12-year note
By Devika Patel
Knoxville, Tenn., Aug. 21 – EastGroup Properties, Inc. and EastGroup Properties, LP plan to place $175 million of senior notes in two tranches on Oct. 14, according to an 8-K filed with the Securities and Exchange Commission.
The deal priced on Aug. 17.
There will be $100 million of 2.61% 10-year series A notes and $75 million of 2.71% 12-year series B notes sold.
EastGroup is a Jackson, Miss.-based real estate investment trust focused on industrial properties.
| Issuers: | EastGroup Properties, Inc. and EastGroup Properties, LP
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| Amount: | $175 million
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| Issue: | Senior notes
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| Pricing date: | Aug. 17
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| Settlement date: | Oct. 14
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| Distribution: | Private placement
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| Series A notes
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| Amount: | $100 million
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| Maturity: | Oct. 14, 2030
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| Coupon: | 2.61%
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|
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| Series B notes
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| Amount: | $75 million
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| Maturity: | Oct. 14, 2032
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| Coupon: | 2.71%
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