Agree Realty completes $450 million 5.625% notes offering due 2034
Agree Limited Partnership, a subsidiary of Agree Realty, completed an underwritten public offering of $450 million of 5.625% senior unsecured notes due June 15, 2034, on May 13, 2024. Net proceeds to the parent guarantor were approximately $440.8 million after the underwriting discount and estimated offering expenses, which adds to the company's debt load.
Key points
- Notes: $450 million principal, 5.625% interest, maturing June 15, 2034; interest paid semiannually from December 15, 2024
- Purchase price paid by underwriters was 98.177% of principal amount
- Net proceeds to the parent guarantor of approximately $440.8 million
- Indenture includes covenants limiting additional debt and requiring a pool of unencumbered assets
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:17 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 13, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.