Essential Properties Realty Trust announced that its operating partnership, Essential Properties, L.P., has priced a public offering of $400 million aggregate principal amount of 5.375% Senior Notes due 2036.
The notes were priced at 98.119% of the principal amount and are scheduled to mature on July 15, 2036. The offering is expected to close on June 15, 2026, subject to customary closing conditions. The notes will be fully and unconditionally guaranteed by Essential Properties Realty Trust.
The operating partnership intends to use the net proceeds from the offering to repay outstanding borrowings under its revolving credit facility and for general corporate purposes, including funding future investment activities.
The offering is being conducted through an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission.
Wells Fargo Securities, BofA Securities, BMO Capital Markets, Capital One Securities, TD Securities, Truist Securities, and Mizuho are serving as joint book-running managers for the transaction. Citigroup, Goldman Sachs & Co. LLC, Huntington Capital Markets, Morgan Stanley, Scotiabank, Citizens Capital Markets, BNP Paribas, Regions Securities LLC, Barclays, Stifel, and Wolfe Capital Markets and Advisory are acting as co-managers.
Essential Properties Realty Trust is a real estate investment trust focused on owning, managing, and leasing single-tenant properties that are net leased to middle-market companies operating in service-oriented and experience-based industries.
