- W.P. Carey (NYSE:WPC) priced an underwritten public offering of €525M principal amount of 0.950% senior notes due 2030, issued by its indirectly wholly-owned subsidiary, WPC Eurobond B.V.
- Notes were offered at 99.335% of the principal amount.
- Interest payable annually, commencing June 1, 2021.
- Offering expected to settle on Mar.8, 2021.
- Net proceeds to be used for redeeming the outstanding aggregate principal amount of its 2.000% Senior Notes due 2023; remaining for general corporate purposes.
- Separately, the company plans to redeem all of its outstanding 2.000% senior notes due 2023 on Mar.24 at a redemption price equal to the greater of 100% of the principal amount of the 2023 notes to be redeemed or the sum of the present values of the remaining scheduled payments of principal of and interest on the 2023 Notes to be redeemed.
- As of the date hereof, there was €500M principal amount of 2023 notes outstanding.