Dec 12, 2025 — Essex Operating Partnership issued $350.0M 4.875% notes due Feb 15, 2036 at 99.093%…
Filed with the SEC on · Summarized by InvestorsBot
Dec 12, 2025 — Essex Operating Partnership issued $350.0M 4.875% notes due Feb 15, 2036 at 99.093% (≈$346.8M proceeds). Interest semi‑annual Feb/Aug, first payment Aug 15, 2026. $ESS 🏢💵 #REIT #FixedIncome
Notes are general unsecured senior obligations of the Operating Partnership but are effectively subordinated to secured indebtedness and subsidiary liabilities. Notes are fully and unconditionally guaranteed by the Company. $ESS 🔒📉 #CRE #Debt
Call & default highlights: redeemable before Nov 15, 2035 at higher of PV (Treasury+15bps) or 100%+accrued; after that at 100%+accrued. Default triggers include 30‑day missed interest, principal default, >$75M unpaid recourse debt, bankruptcy. $ESS ⚠️📅 #Investing #Bonds