By Devika Patel
Knoxville, Tenn., Sept. 28 – Agree Realty Corp. said it settled a $125 million private placement of 4.32% guaranteed senior notes due Sept. 26, 2030 on Thursday.
With the sale of these notes, the company's weighted-average debt maturity is approximately 8.1 years.
Proceeds will be used to reduce outstanding debt under the company's unsecured revolving credit facility and for general corporate purposes.
Agree is a real estate investment trust located in Farmington Hills, Mich.
| Issuer: | Agree Realty Corp.
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| Issue: | Senior notes
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| Amount: | $125 million
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| Maturity: | Sept. 26, 2030
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| Coupon: | 4.32%
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| Settlement date: | Sept. 27
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| Distribution: | Private placement
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