By William Gullotti
Buffalo, N.Y., April 10 – Empire State Realty Trust, Inc. and its operating partnership Empire State Realty OP, LP entered into a note purchase agreement to issue $225 million green senior unsecured notes in three parts in a private placement, according to a press release on Wednesday.
The overall issue consists of $155 million 7.2% notes due June 2029, $45 million 7.32% notes due June 2031 and $25 million 7.41% notes due June 2034.
The placement is scheduled to fund on June 17.
Proceeds will be used to repay existing debt, including certain amounts drawn under the company’s revolver, with any remainder used for general corporate purposes.
Based in New York, Empire is a real estate investment trust that owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area.
| Issuers: | Empire State Realty Trust, Inc. and Empire State Realty OP, LP
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| Amount: | $225 million
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| Issue: | Green senior unsecured notes
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| Announcement date: | April 10
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| Settlement date: | June 17
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| Distribution: | Private placement
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| 2029 notes
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| Amount: | $155 million
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| Maturity: | June 2029
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| Coupon: | 7.2%
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| 2031 notes
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| Amount: | $45 million
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| Maturity: | June 2031
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| Coupon: | 7.32%
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| 2034 notes
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| Amount: | $25 million
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| Maturity: | June 2034
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| Coupon: | 7.41%
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