Reported Earlier, Rexford Industrial Prices Offering Of $500M 4.375% Exchangeable Senior Notes Due 2027 And $500M 4.125% Exchangeable Senior Notes Due 2029

Author: Benzinga Newsdesk | March 27, 2024 02:13am

Rexford Industrial Realty (NYSE: REXR) announced that its operating partnership, Rexford Industrial Realty, L.P. (the "operating partnership"), priced its offering of $500 million aggregate principal amount of 4.375% exchangeable senior notes due 2027 (the "2027 notes") and $500 million aggregate principal amount of 4.125% exchangeable senior notes due 2029 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.

The notes will be senior, unsecured obligations of the operating partnership and will accrue interest at a rate of 4.375% per annum (in the case of the 2027 notes) and 4.125% per annum (in the case of the 2029 notes), payable semi-annually in arrears on March 15 and September 15 of each year, beginning on September 15, 2024. The 2027 notes will mature on March 15, 2027, and the 2029 notes will mature on March 15, 2029, in each case unless earlier repurchased, exchanged or (in the case of the 2029 notes) redeemed.

Posted In: REXR