Seeking Alpha

W. P. Carey prices $325M of senior unsecured notes

|About: W. P. Carey Inc. (WPC)|By:, SA News Editor

W. P. Carey (WPC -0.5%) has priced an underwritten public offering of $325M of 3.850% Senior Notes due July 15, 2029 at 98.876% of the principal amount.

Interest on the Notes will be paid semi-annually on January 15 and July 15 of each year, beginning on January 15, 2020.

The offering of the Notes is expected to settle on June 14 and the company intends to use the net proceeds from this offering to reduce amounts outstanding under its unsecured revolving credit facility, which was used in part to repay secured mortgage debt outstanding, and for general corporate purposes.

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