Phillips Edison (PECO) prices $350 million inaugural senior note issue.
Phillips Edison & Company, Inc. (PECO) announced today that its operating partnership has priced a $350 million offering of 2.625% senior unsecured notes due 2031. The notes were priced to yield 2.774% or +123 basis points to the treasury curve. Expected ratings are Baa3/BBB- from Moody's and S&P.
Phillips Edison focuses on the acquisition and management of grocery-anchored shopping centers. As of June 30, 2021, the company's portfolio included 294 owned and managed properties in 31 states. PECO has a total market capitalization of approximately $5.6 billion.
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Phillips Edison focuses on the acquisition and management of grocery-anchored shopping centers. As of June 30, 2021, the company's portfolio included 294 owned and managed properties in 31 states. PECO has a total market capitalization of approximately $5.6 billion.
09/29/2021