Phillips Edison & Company, Inc. (PECO) said on Friday that its operating partnership, Phillips Edison Grocery Center Operating Partnership I, L.P., has priced a public offering of $350 million aggregate principal amount of 5.250% senior unsecured notes due 2032.
The Operating Partnership intends to use the net proceeds from the offering for general corporate purposes, including debt repayment, acquisition of additional properties, capital expenditures, and others.
The offering is expected to be closed on June 17.
The notes will be fully and unconditionally guaranteed by PECO.
For comments and feedback: editorial@rttnews.com