NEW YORK, Sept. 7, 2016 /PRNewswire/ -- W. P. Carey
Inc. (NYSE: WPC) announced today that it has priced an underwritten
public offering of $350 million
aggregate principal amount of 4.250% Senior Notes due October 1, 2026 (the "Notes"). The Notes
were offered at 99.682% of the principal amount.
Interest on the Notes will be paid semi-annually on April 1 and October
1 of each year, beginning on April 1,
2017. The offering of the Notes is expected to settle on
September 12, 2016, subject to
customary closing conditions. W. P. Carey Inc. intends to use
the net proceeds from this offering to reduce amounts outstanding
under its senior unsecured credit facility and for general
corporate purposes, including the potential future repayment of
mortgages.
J.P. Morgan Securities LLC, Barclays Capital Inc. and Citigroup
Global Markets Inc. acted as joint book-running managers for the
Notes offering.
A registration statement relating to the Notes has become
effective under the Securities Act of 1933, as amended (the
"Securities Act"). The offering is being made by means of a
prospectus supplement and prospectus. Before making an
investment in the Notes, potential investors should read the
prospectus supplement and the accompanying prospectus for more
complete information about W. P. Carey Inc. and the
offering. Potential investors may obtain these documents for
free by visiting EDGAR on the Securities and Exchange Commission
(the "SEC") website at www.sec.gov. Alternatively, potential
investors may obtain copies, when available, by contacting: J.P.
Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention:
Investment Grade Syndicate Desk – 3rd floor, Tel: (212)
834-4533; Barclays Capital Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Tel: (888) 603-5847,
Email: barclaysprospectus@broadridge.com; or Citigroup Global
Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, Tel:
(800) 831-9146, Email: prospectus@citi.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of the
Notes in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. Any offer or sale of the
Notes will be made only by means of a prospectus supplement
relating to the offering and the accompanying prospectus.
Forward-Looking Statements
Certain of the matters
discussed in this press release constitute forward-looking
statements within the meaning of the Securities Act, and the
Securities Exchange Act of 1934, as amended, both as amended by the
Private Securities Litigation Reform Act of 1995. The
forward-looking statements include, among other things, statements
regarding the intent, belief or expectations of W. P. Carey Inc.
and can be identified by the use of words such as "may," "will,"
"should," "would," "assume," "outlook," "seek," "plan," "believe,"
"expect," "anticipate," "intend," "estimate," "forecast" and other
comparable terms. These forward-looking statements represent
W. P. Carey Inc.'s expectations and beliefs concerning future
events, and no assurance can be given that the future results
described in this press release will be achieved. There are a
number of risks and uncertainties that could cause actual results
to differ materially from the forward-looking
statements. Other unknown or unpredictable factors could also
have material adverse effects on future results, performance or
achievements of the company. The factors and assumptions upon
which any forward-looking statements herein are based are subject
to risks and uncertainties which include, among others, risks
associated with the offering of the Notes, including whether such
offering of the Notes will be successful and on what terms it may
be completed, the risk factors set forth in W. P. Carey Inc.'s most
recent Annual Report on Form 10-K, W. P. Carey Inc.'s Quarterly
Report on Form 10-Q for the quarterly period ended June 30, 2016 and in subsequent reports filed
with the SEC, and other factors over which it has little or no
control. In light of these risks, uncertainties, assumptions
and factors, the forward-looking events discussed in this
communication may not occur. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this communication, unless noted
otherwise. Except as required under the federal securities
laws and the rules and regulations of the SEC, W. P. Carey Inc.
does not undertake any obligation to release publicly any revisions
to the forward-looking statements to reflect events or
circumstances after the date of this communication or to reflect
the occurrence of unanticipated events.
W. P. Carey Inc.
W. P. Carey Inc. is a self-managed
real estate investment trust and a leading global owner and manager
of commercial properties, primarily net leased to companies on a
long-term basis. Through its investment management business,
the company also manages a series of non-traded real estate
investment trusts and other investment vehicles.
Institutional Investors:
Peter Sands
W. P. Carey Inc.
212-492-1110
institutionalir@wpcarey.com
Press Contact:
Guy Lawrence
Ross & Lawrence
212-308-3333
gblawrence@rosslawpr.com
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SOURCE W. P. Carey Inc.