Empire State issues $350 million; Breitburn Energy to sell notes; Univest wraps placement

By Lisa Kerner

Charlotte, N.C., March 30 – Empire State Realty Trust, Inc. operating partnership Empire State Realty OP, LP sold $350 million of its senior notes in a private placement to Prudential Capital Group affiliates.

The notes were issued as $100 million of 3.93% series A senior notes due 2025, $125 million of 4.09% series B senior notes due 2027 and $125 million of 4.18% series C senior notes due 2030.

Proceeds will be used to repay outstanding mortgage debt on two properties, reduce amounts outstanding under an unsecured revolving line of credit and for other general corporate purposes, the company said.

Breitburn Energy Partners LP announced it will sell $650 million of 9¼% senior secured notes due May 2020 to investment funds managed by EIG Global Partners and other purchasers.

Jefferies LLC is the lead placement agent.

Univest Corp. of Pennsylvania completed a $50 million private placement of 5.1% fixed-to-floating-rate subordinated notes due 2025, according to an 8-K filed with the Securities and Exchange Commission.

The notes will be fixed at 5.1% until March 30, 2020. During that time, interest will be payable semiannually. After that date, the interest rate will float at Libor plus 354.4 basis points and will be payable quarterly.

The issue can be redeemed beginning March 30, 2020.

Proceeds will be used for general corporate purposes.

U.S. Bank NA is the selling agent.

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