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Vereit Operating Partnership plans to price senior notes offering
By Marisa Wong
Los Angeles, June 18 – Vereit Operating Partnership, LP plans to price senior notes, according to a 424B5 filing with the Securities and Exchange Commission.
Wells Fargo Securities, LLC, Barclays, BofA Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC and U.S. Bancorp Investments, Inc. are the joint bookrunners.
Proceeds will be used to partially redeem the company’s series F preferred stock and to repay borrowings under its revolving credit facility.
In addition, the company may use a portion of the proceeds from the new notes, together with revolver borrowings or cash on hand, to purchase a portion of or repay at maturity its 3.75% convertible notes due 2020.
The commercial property real estate investment trust is based in Phoenix.
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