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Phillips Edison Grocery plans to sell guaranteed senior notes
By Devika Patel
Knoxville, Tenn., Sept. 29 – Phillips Edison Grocery Center Operating Partnership I, LP is expected to price senior notes, according to a 424B5 filing with the Securities and Exchange Commission.
The notes have a make-whole call and are then redeemable at par.
The bookrunners are Wells Fargo Securities LLC, BofA Securities Inc., J.P. Morgan Securities LLC and PNC Capital Markets LLC.
Proceeds will be used to repay debt, including the $150 million remaining balance on the 2023 term loan, and for general corporate purposes.
The notes will be guaranteed by parent company Phillips Edison & Co., Inc.
The Cincinnati company is a real estate investment trust that acquires and manages grocery-anchored neighborhood shopping centers.
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