Essential Properties closes $400 million offering of 5.375% senior notes due 2036
Essential Properties Realty Trust's operating partnership closed an underwritten public offering of $400 million in 5.375% senior notes due July 15, 2036, guaranteed by the parent company. The notes were sold at 97.469% of principal, and the indenture includes covenants requiring the parent to maintain a certain percentage of unencumbered assets.
Key points
- Principal amount: $400 million; interest at 5.375% per year, payable January 15 and July 15, starting January 15, 2027
- Sold to underwriters at 97.469% of principal amount; underwriting agreement dated June 4, 2026, with Wells Fargo Securities and BofA Securities as representatives
- Notes are senior unsecured but effectively subordinated to the issuer's secured debt and to all liabilities of its subsidiaries
- Issuer may redeem before April 15, 2036 at the greater of a make-whole price or 100% of principal, plus accrued interest
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:59 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 June 15, 2026.
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.