New Issue: American Assets closes $100 million placement of 4.45% notes due 2025

New York, Feb. 2 – American Assets Trust, Inc.’s operating partnership, American Assets Trust, LP, closed a private placement of $100 million of 4.45% senior guaranteed notes, series B, due 2025.

Proceeds will be used to refinance existing secured debt and for general corporate purposes.

The offering was announced on Oct. 31 when American Assets said it had sold $150 million of series A notes due 2021 with a 4.04% coupon.

A further $100 million of 4.5% senior guaranteed notes, series C, due April 1, 2025 is expected to close on April 1.

American Assets is a real estate investment trust based in San Diego.

Issuer:	American Assets Trust, LP
Guarantor:	American Assets Trust, Inc.
Issue:	Senior guaranteed notes, series B
Amount:	$100 million
Maturity:	Feb. 2, 2025
Coupon:	4.45%
Call option:	Make-whole at Treasuries plus 50 bps
Distribution:	Private placement
Pricing date:	Oct. 31
Settlement date:	Feb. 2
Purchasers:	Stonebridge Life Insurance Co., TransAmerica Casualty Insurance Co., American Family Life Insurance Co., Assurity Life Insurance Co., AXA Equitable Life Insurance Co., Massachusetts Mutual Life Insurance Co., C.M. Life Insurance Co., Banner Life Insurance Co., MassMutual Asia Ltd., Guardian Life Insurance Co. of America, Metropolitan Life Insurance Co., Nationwide Life Insurance Co., Ohio National Life Assurance Corp., Group Health Options, Inc., Physicians Insurance A Mutual Co., Americo Financial Life & Annuity Insurance Co., USAA Life Insurance Co., United Services Automobile Assoc. and Garrison Property & Casualty Insurance Co.

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