Agree Realty prices $400 million of 5.600% notes due 2035, nets $393.6 million
Agree Limited Partnership, a subsidiary of Agree Realty Corporation, completed an underwritten public offering of $400 million of 5.600% senior unsecured notes due June 15, 2035, guaranteed by the parent. The offering closed May 23, 2025, with net proceeds to the parent guarantor of approximately $393.6 million after the underwriting discount and estimated expenses.
Key points
- Notes: $400 million principal, 5.600% interest, maturing June 15, 2035; interest paid June 15 and December 15 starting December 15, 2025
- Underwriters paid 98.647% of principal for the notes
- Net proceeds to the parent guarantor of approximately $393.6 million
- Indenture includes limits on additional indebtedness and a requirement to maintain 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 23, 2025.
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.