New Issue: W.P. Carey sells $350 million 4.25% 10-year notes at 275 bps spread

By Cristal Cody

Eureka Springs, Ark., Sept. 7 – W.P. Carey Inc. priced $350 million of 4.25% 10-year senior notes with a spread of 275 basis points over Treasuries on Wednesday, according to an FWP filing with the Securities and Exchange Commission.

The notes due Oct. 1, 2026 (Baa2/BBB) priced at 99.682 to yield 4.289%.

J.P. Morgan Securities LLC, Barclays and Citigroup Global Markets Inc. were the bookrunners.

Proceeds will be used to reduce debt under the company’s senior unsecured credit facility and revolver and for general corporate purposes.

New York-based W.P. Carey is a publicly traded global net-lease real estate investment trust.

Issuer:	W.P. Carey Inc.
Amount:	$350 million
Description:	Senior notes
Maturity:	Oct. 1, 2026
Bookrunners:	J.P. Morgan Securities LLC, Barclays, Citigroup Global Markets Inc.
Senior co-managers:	Capital One Securities, Inc., U.S. Bancorp Investments, Inc.
Co-managers:	Regions Securities LLC, PNC Capital Markets LLC, BMO Capital Markets Corp.
Coupon:	4.25%
Price:	99.682
Yield:	4.289%
Spread:	Treasuries plus 275 bps
Call features:	Make-whole call before July 1, 2026 at Treasuries plus 45 bps; on or after July 1, 2026 at par
Trade date:	Sept. 7
Settlement date:	Sept. 12
Ratings:	Moody’s: Baa2
	S&P: BBB
Distribution:	SEC registered

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