Phillips Edison (PECO) said Monday that its Phillips Edison Grocery Center Operating Partnership I has priced a public offering of $350 million of 4.950% senior unsecured notes due 2035.
The notes, which will be fully and unconditionally guaranteed by Phillips Edison, were priced at 98.458% of the principal amount, it said.
The offering is scheduled to close on Thursday.
The operating partnership plans to use the net proceeds for general corporate purposes, according to Phillips Edison.
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