NEW
YORK, June 18, 2024 /PRNewswire/ -- W. P.
Carey Inc. (NYSE: WPC, the "Company") announced today that it has
priced an underwritten public offering of $400 million aggregate principal amount of 5.375%
Senior Notes due 2034 (the "Notes"). The Notes were offered at
98.843% of the principal amount.
Interest on the Notes will be paid semi-annually on June 30 and December
30 of each year, beginning on December 30, 2024. The offering of the Notes is
expected to settle on June 28, 2024,
subject to customary closing conditions. The Company intends to use
the net proceeds from this offering for general corporate purposes,
including to fund potential future investments (including
acquisitions and development and redevelopment activities) and to
repay indebtedness.
BofA Securities, Inc., J.P. Morgan, PNC Capital Markets LLC, and
U.S. Bancorp Investments, Inc. acted as joint book-running managers
for the Notes offering.
A registration statement relating to the Notes has been filed
with the Securities and Exchange Commission (the "SEC") and 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 the Company and the offering. Potential
investors may obtain these documents for free by visiting EDGAR on
the SEC's website at www.sec.gov. Alternatively, potential
investors may obtain copies, when available, by contacting: BofA
Securities, Inc. toll-free at (800) 294-1322, J.P. Morgan
Securities LLC collect at (212) 834-4533, PNC Capital Markets LLC
toll-free at (855) 881-0697, and U.S. Bancorp Investments, Inc.
toll-free at (877) 558-2607.
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.
W. P. Carey Inc.
W. P. Carey Inc. is an internally-managed diversified REIT and a
leading owner of commercial real estate, net leased to companies
located primarily in the United
States and Northern and Western
Europe on a long-term basis. The vast majority of the
Company's revenues originate from lease revenue provided by its
real estate portfolio, which is comprised primarily of
single-tenant industrial, warehouse and retail facilities that are
critical to its tenants' operations and represent the large
majority of the Company's recent investments.
Forward-Looking Statements
Certain of the matters discussed in this communication
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: expectations regarding the use
of proceeds of this offering and the settlement date. Forward
looking statements are generally identified by the use of words
such as "may," "will," "should," "would," "will be," "will
continue," "will likely result," "believe," "project," "expect,"
"anticipate," "intend," "estimate" "opportunities," "possibility,"
"strategy,", "plan," "maintain" or the negative version of these
words and other comparable terms. These forward-looking statements
include, but are not limited to, statements that are not historical
facts.
These statements are based on the current expectations of the
Company's management, and it is important to note that the
Company's actual results could be materially different from those
projected in such forward-looking statements. You should exercise
caution in relying on forward-looking statements as they involve
known and unknown risks, uncertainties, and other factors that may
materially affect the Company's future results, performance,
achievements, or transactions. Information on factors that could
impact actual results and cause them to differ from what is
anticipated in the forward-looking statements contained herein is
included in the Company's Quarterly Report on Form 10-Q for the
quarterly period ended March 31,
2024, as filed with the SEC on May 1,
2024, as well as in the Company's other filings with the
SEC, including but not limited to those described in Part I, Item
1A. Risk Factors in the Company's Annual Report on Form 10-K for
the fiscal year ended December 31,
2023, as filed with the SEC on February 9, 2024. Moreover, because the Company
operates in a very competitive and rapidly changing environment,
new risks are likely to emerge from time to time. Given these risks
and uncertainties, potential investors are cautioned not to place
undue reliance on these forward-looking statements as a
prediction of future results, which speak only as of the date of
this communication, unless noted otherwise. Except as required by
federal securities laws and the rules and regulations of the SEC,
the Company does not undertake to revise or update any
forward-looking statements.
Institutional Investors:
Peter
Sands
W. P. Carey Inc.
212-492-1110
institutionalir@wpcarey.com
Press Contact:
Anna
McGrath
W. P. Carey Inc.
212-492-1166
amcgrath@wpcarey.com
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SOURCE W. P. Carey Inc.