New Issue: Duke Realty prices $250 million 3.625% 10-year notes at Treasuries plus 170 bps

By Andrea Heisinger

New York, March 12 - Duke Realty LP priced $250 million of 3.625% 10-year senior notes (Baa2/BBB-/) in Tuesday's market at Treasuries plus 170 basis points, a source close to the trade said.

Pricing was at 99.179 to yield 3.723%.

There is a make-whole call at Treasuries plus 30 bps to Jan. 15, 2023 and a par call after that date.

Bookrunners were Barclays, J.P. Morgan Securities LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC.

Proceeds will be used to repay outstanding debt with near-term maturities, including all or a portion under an existing revolving credit facility, and for general corporate purposes.

The real estate investment trust is based in Indianapolis.

Issuer:	Duke Realty LP
Issue:	Senior notes
Amount:	$250 million
Maturity:	April 15, 2023
Bookrunners:	Barclays, J.P. Morgan Securities LLC, RBC Capital Markets LLC, Wells Fargo Securities LLC
Co-managers:	Scotia Capital USA Inc., Regions Securities LLC, Credit Suisse Securities (USA) LLC, PNC Capital Markets LLC, SunTrust Robinson Humphrey Inc., U.S. Bancorp Investments Inc.
Coupon:	3.625%
Price:	99.179
Yield:	3.723%
Spread:	Treasuries plus 170 bps
Call:	Make-whole at Treasuries plus 30 bps to Jan. 15, 2023, par call after
Trade date:	March 12
Settlement date:	March 15
Ratings:	Moody's: Baa2
	Standard & Poor's: BBB-

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.