Vereit Operating Partnership offers $500 million of 10-year notes

By Devika Patel

Knoxville, Tenn., Aug. 8 – Vereit Operating Partnership LP intends to sell $500 million of guaranteed fixed-rate senior notes due 2027, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Vereit, Inc.

The notes will feature a make-whole call and will then be callable at par.

Bookrunners are J.P. Morgan Securities LLC, BofA Merrill Lynch and Wells Fargo Securities LLC.

Proceeds will be used to repay borrowings, including swap termination costs and accrued and unpaid interest, under the company’s $500 million term loan facility due June 30, 2018.

Vereit is a Phoenix-based owner and manager of a portfolio of retail, restaurant, office and industrial real estate assets.

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