Reported Earlier, Rexford Industrial Prices Offering Of $500M 4.375% Exchangeable Senior Notes Due 2027 And $500M 4.125% Exchangeable Senior Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
Rexford Industrial Realty, Inc. (REXR) and its operating partnership have priced a private offering of $500 million 4.375% exchangeable senior notes due 2027 and $500 million 4.125% exchangeable senior notes due 2029 to qualified institutional buyers. The notes are senior, unsecured obligations, with interest payable semi-annually and maturity dates in March 2027 and March 2029, respectively.
March 27, 2024 | 6:13 am
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Rexford Industrial Realty, Inc. has successfully priced a significant debt offering, raising $1 billion through exchangeable senior notes.
The successful pricing of the exchangeable senior notes indicates a strong demand from institutional investors and could be seen as a positive signal regarding the company's creditworthiness and financial health. This move could potentially lower the company's cost of capital and provide it with more flexibility for future investments or debt repayment, which might be viewed positively by the market in the short term.
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