W.P. Carey to redeem 2% senior notes due 2023

By Taylor Fox

New York, Feb. 22 – W.P. Carey Inc. plans to redeem its €500 million outstanding 2% senior notes due 2023 (Cusip: 92936UAB5) on March 24, according to a news release.

The redemption price will be calculated three business days prior to the redemption date and be equal to the greater of par or the sum of the present values of the remaining scheduled payments of principal of and interest on the 2023 notes, discounted to the redemption date on an annual basis at the comparable government bond rate plus basis points.

The company will also pay interest.

Elavon Financial Services DAC, UK Branch is the paying agent.

New York-based W.P. Carey is a publicly traded real estate investment trust that provides long-term sale-leaseback and built-to-suit financing.

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