DCT Industrial Trust® Announces Pricing of Add-On Offering of 4.500% Senior Unsecured Notes Due 2023
March 13 2017 - 05:00PM
Business Wire
DCT Industrial Trust Inc.® (the “Company”) (NYSE: DCT) today
announced that its operating partnership subsidiary, DCT Industrial
Operating Partnership LP (the “Operating Partnership”), priced an
offering of $50.0 million aggregate principal amount of 4.500%
senior unsecured notes due 2023 (the “Notes”) in an underwritten
public offering. The Notes were priced at 103.880% of the principal
amount, plus accrued and unpaid interest from, and including,
October 15, 2016 to, and excluding, the anticipated settlement
date. The Notes will mature on October 15, 2023, unless earlier
redeemed. The offering is expected to close on March 16, 2017,
subject to the satisfaction of customary closing conditions. The
Notes will be fully and unconditionally guaranteed by the Company
and will form a part of the same series as the Operating
Partnership’s previously issued 4.500% senior unsecured notes due
2023, $275.0 million of which are currently outstanding.
The Operating Partnership intends to use the net proceeds to
repay amounts outstanding under its unsecured revolving credit
facility and for general corporate purposes.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and
Wells Fargo Securities, LLC are acting as joint book-running
managers for this offering.
This offering is being made pursuant to an effective
shelf-registration statement previously filed with the Securities
and Exchange Commission (the “SEC”) and only by means of a
prospectus and related prospectus supplement. You may obtain copies
of these documents without charge from the SEC at www.sec.gov.
Alternatively, you may request copies of these materials by
contacting J.P. Morgan Securities LLC, 383 Madison Avenue, New
York, New York, 10179, Attention: Investment Grade Syndicate Desk,
3rd Floor, Telephone: 1-212-834-4533; Citigroup Global Markets
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, Telephone: 1-800-831-9146, email:
prospectus@citi.com; or Wells Fargo Securities, LLC, 608 2nd Avenue
South, Minneapolis, MN 55402, Attention: WFS Customer Service,
Telephone: 1-800-645-3751, email:
wfscustomerservice@wellsfargo.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor shall there be
any sale of these securities in any jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction.
About DCT Industrial Trust®
DCT Industrial is a leading industrial real estate company
specializing in the ownership, acquisition, development, leasing
and management of bulk-distribution and light-industrial properties
in high-demand distribution markets in the United States. As of
December 31, 2016, the Company owned interests in approximately
74.0 million square feet of properties leased to approximately 900
customers. Additional information is available at
www.dctindustrial.com.
Forward-Looking Information
This press release contains forward-looking statements within
the meaning of the Federal securities laws. You should exercise
caution in interpreting and relying on forward-looking statements
because they involve known and unknown risks, uncertainties and
other factors which are, in some cases, beyond the Company’s
control and could materially affect actual results, performance or
achievements. These factors include, without limitation, the
Operating Partnership’s ability to close the offering, the use of
proceeds therefrom and other risks and uncertainties detailed from
time to time in the Company’s and the Operating Partnership’s
filings with the Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20170313006403/en/
DCT Industrial TrustMelissa Sachs,
303-597-2400investorrelations@dctindustrial.com
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