Essential Properties Realty Trust's (EPRT) operating partnership priced a public offering of $400 million of 5.375% senior notes due 2036, the company said late Thursday.
The notes were priced at 98.119% of the principal amount and are expected to settle on June 15, the company said.
The company plans to use the net proceeds to repay outstanding amounts under its revolving credit facility and for general corporate purposes, including funding future investments.
Shares rose more than 1% in after-hours activity.
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