Landmark greenshoe increases 7.9 % preferred units to $46 million

By Wendy Van Sickle

Columbus, Ohio, Aug. 8 – The underwriters of Landmark Infrastructure Partners LP’s offering of 7.9% series B cumulative redeemable perpetual preferred units exercised their $6 million over-allotment option in full, increasing the size of the offering to $46 million, according to a company news release.

As previously reported, the company priced $40 million of the units on Aug. 3, upsized from $25 million.

UBS Securities LLC, FBR Capital Markets & Co. and RBC Capital Markets LLC were the joint bookrunners.

Distributions will be made on a quarterly basis. The units become callable on Aug. 8, 2021 or upon a change of control at par plus accrued distributions.

Proceeds will be used to repay debt under a revolving credit facility.

Landmark is an El Segundo, Calif.-based master limited partnership that acquires, owns and manages a portfolio of real property interests that are leased to companies in the wireless communication, outdoor advertising and renewable power generation industries.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.