Phillips Edison Grocery Center Operating Partnership I, L.P., the operating partnership of Phillips Edison & Company, priced a public offering of $350 million aggregate principal amount of 5.250% senior unsecured notes due 2032. The notes were priced at 99.832% of the principal amount and are expected to mature on August 15, 2032.
The offering is anticipated to settle on June 17, 2025, subject to customary closing conditions. The notes will be fully and unconditionally guaranteed by Phillips Edison & Company, providing a strong backing for the debt issuance.
The net proceeds from this offering are intended for general corporate purposes, including the repayment of borrowings under the company's revolving credit facility, other outstanding indebtedness, and funding for additional property acquisitions and capital expenditures. This strategic financing enhances PECO's liquidity and supports its ongoing investment activities.
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