SAN MATEO, CA--(Marketwired - April 03, 2017) - Essex Property Trust, Inc. (NYSE: ESS) announced today that its operating partnership, Essex Portfolio, L.P. (the "Issuer"), priced $350 million aggregate principal amount of senior unsecured notes (the "Notes") at an interest rate per annum of 3.625%. The Notes were offered to investors at a price of 99.423% of par value with a yield to maturity of 3.694%. Interest is payable semiannually on May 1 and November 1 with the first interest payment due November 1, 2017. The Notes mature on May 1, 2027. The Notes will be the senior unsecured obligations of the Issuer and will be fully and unconditionally guaranteed by Essex Property Trust, Inc. The Notes offering is expected to close on April 10, 2017, subject to the satisfaction of certain closing conditions.
April 04, 2017 at 03:22AM
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