Agree intends to issue notes in two parts via Citigroup, Wells Fargo

By Devika Patel

Knoxville, Tenn., May 5 – Agree LP plans to offer notes in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes feature a make-whole call and then a par call.

Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to repay debt under the company’s revolving credit facility and its unsecured term loan facilities, to settle certain swap agreements and for general corporate purposes.

Agree, based in Bloomfield Hills, Mich., is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants.

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