CoreSite Realty Corp. (COR) completes $400 million senior notes placement.

Denver-based CoreSite Realty Corp. (COR) announced today that it has completed a $400 million private placement of senior unsecured notes through its principal operating subsidiary, CoreSite, L.P.  The offering was dividend into two  tranches and included:

• • $200 million of 4.11% Series A Senior Notes due April 17, 2026.  This represents a spread of approximately 162 basis points over the seven-year treasury.
  • $200 million of 4.31% Series B Senior Notes due April 17, 2029.  This represents a spread of approximately 172 basis points over the ten-year treasury.

All of the Series A Senior Notes were issued at closing along with $125 million of the Series B Senior Notes.  The remaining $75 million Series B Senior Notes are expected to be issued prior to April 17, 2019.

CoreSite is a rapidly growing data center REIT with an operating portfolio of 21 data center properties and an additional four locations in active development.  The company noted that the private placement offering "provides incremental capital to finance our robust development pipeline...and extends our debt maturity profile."

For a complete list of outstanding REIT private placement bonds, please contact REIT/BASE using the link on our home page.

 

04/17/2019