Americold Announces Pricing Terms for $400,000,000 Notes Offering
Americold Realty Trust (NYSE: COLD) has announced the pricing of a $400 million notes offering through its operating partnership. The notes, due May 15, 2032, are priced at 99.862% of their principal amount with a 5.600% yield rate (5.622% to maturity).
The notes will be fully guaranteed by Americold and its subsidiaries. The offering is expected to close on April 3, 2025. The company plans to use the net proceeds to repay a portion of its revolving credit facility borrowings, cover offering-related fees and expenses, and for general corporate purposes.
The offering is being managed by multiple financial institutions, including BofA Securities, J.P. Morgan Securities, RBC Capital Markets, and Truist Securities as joint book-running managers. The securities are being offered through an effective shelf registration statement filed with the SEC.
Americold Realty Trust (NYSE: COLD) ha annunciato il prezzo di un
Le note saranno completamente garantite da Americold e dalle sue controllate. Si prevede che l'emissione si chiuda il 3 aprile 2025. L'azienda prevede di utilizzare i proventi netti per rimborsare una parte dei prestiti della sua linea di credito revolving, coprire le spese e le commissioni legate all'emissione e per scopi aziendali generali.
L'emissione è gestita da vari istituti finanziari, tra cui BofA Securities, J.P. Morgan Securities, RBC Capital Markets e Truist Securities come manager congiunti. I titoli sono offerti attraverso una dichiarazione di registrazione a scaffale efficace depositata presso la SEC.
Americold Realty Trust (NYSE: COLD) ha anunciado el precio de una emisión de notas de 400 millones de dólares a través de su asociación operativa. Las notas, que vencen el 15 de mayo de 2032, están fijadas en el 99.862% de su monto principal con una tasa de rendimiento del 5.600% (5.622% hasta el vencimiento).
Las notas estarán completamente garantizadas por Americold y sus filiales. Se espera que la emisión se cierre el 3 de abril de 2025. La compañía planea utilizar los ingresos netos para pagar una parte de sus préstamos de la línea de crédito revolvente, cubrir los honorarios y gastos relacionados con la emisión, y para fines corporativos generales.
La emisión está siendo gestionada por múltiples instituciones financieras, incluyendo BofA Securities, J.P. Morgan Securities, RBC Capital Markets y Truist Securities como gerentes conjuntos. Los valores se ofrecen a través de una declaración de registro de estantería efectiva presentada ante la SEC.
아메리콜드 리얼티 트러스트 (NYSE: COLD)는 운영 파트너십을 통해 4억 달러 규모의 채권 발행 가격을 발표했습니다. 이 채권은 2032년 5월 15일 만기로, 원금의 99.862%로 가격이 책정되었으며, 수익률은 5.600% (만기 시 5.622%)입니다.
채권은 아메리콜드와 그 자회사에 의해 완전히 보증됩니다. 발행은 2025년 4월 3일에 마감될 것으로 예상됩니다. 회사는 순수익을 회전 신용 시설 대출의 일부를 상환하고, 발행 관련 수수료 및 비용을 충당하며, 일반 기업 용도로 사용할 계획입니다.
이번 발행은 BofA Securities, J.P. Morgan Securities, RBC Capital Markets 및 Truist Securities를 공동 북런닝 매니저로 하는 여러 금융 기관이 관리하고 있습니다. 증권은 SEC에 제출된 유효한 선등록 명세서를 통해 제공됩니다.
Americold Realty Trust (NYSE: COLD) a annoncé le prix d'une émission de billets de 400 millions de dollars par le biais de son partenariat opérationnel. Les billets, arrivant à échéance le 15 mai 2032, sont fixés à 99,862 % de leur montant principal avec un taux de rendement de 5,600 % (5,622 % à l'échéance).
Les billets seront entièrement garantis par Americold et ses filiales. La clôture de l'émission est prévue pour le 3 avril 2025. La société prévoit d'utiliser le produit net pour rembourser une partie de ses emprunts de ligne de crédit renouvelable, couvrir les frais et dépenses liés à l'émission, et pour des fins d'entreprise générales.
L'émission est gérée par plusieurs institutions financières, dont BofA Securities, J.P. Morgan Securities, RBC Capital Markets et Truist Securities en tant que co-managers. Les titres sont offerts par le biais d'une déclaration d'enregistrement de shelf efficace déposée auprès de la SEC.
Americold Realty Trust (NYSE: COLD) hat den Preis für ein 400 Millionen Dollar Anleiheangebot über seine Betriebspartnerschaft bekannt gegeben. Die Anleihen, die am 15. Mai 2032 fällig sind, wurden zu 99,862% ihres Nennbetrags mit einer Rendite von 5,600% (5,622% bis zur Fälligkeit) festgelegt.
Die Anleihen werden vollständig von Americold und seinen Tochtergesellschaften garantiert. Der Abschluss des Angebots wird für den 3. April 2025 erwartet. Das Unternehmen plant, die Nettoerlöse zur Rückzahlung eines Teils seiner revolvierenden Kreditfazilität, zur Deckung der mit dem Angebot verbundenen Gebühren und Ausgaben sowie für allgemeine Unternehmenszwecke zu verwenden.
Das Angebot wird von mehreren Finanzinstituten verwaltet, darunter BofA Securities, J.P. Morgan Securities, RBC Capital Markets und Truist Securities als gemeinsame Buchführer. Die Wertpapiere werden über eine wirksame Shelf-Registrierungsanmeldung angeboten, die bei der SEC eingereicht wurde.
- Successful pricing of $400M notes offering indicates strong market access
- Debt refinancing could improve financial flexibility
- Multiple major financial institutions supporting the offering shows market confidence
- Additional debt burden with 5.600% interest rate
- Notes priced slightly below par at 99.862%
Insights
Americold's $400 million notes offering represents a strategic liability management move that will reshape its debt profile. The 7-year notes priced at
The company's decision to use proceeds primarily to pay down revolving credit facility borrowings suggests a deliberate shift from flexible short-term financing to more structured long-term debt. This maturity extension creates greater financial predictability through 2032, which aligns well with Americold's business model of owning and operating temperature-controlled real estate assets that generate steady cash flows.
At approximately
The joint guarantees from the parent company and subsidiaries enhance the security profile of these notes, likely contributing to the reasonable yield. The strong lineup of underwriters, including major institutions like BofA Securities, J.P. Morgan, and RBC Capital Markets, signals institutional confidence in Americold's credit quality.
Without knowing the interest rate on the revolving facility being repaid, it's difficult to assess the net interest expense impact, but the primary benefit appears to be locking in medium-term financing and potentially reducing dependency on variable-rate debt.
ATLANTA, GA., March 25, 2025 (GLOBE NEWSWIRE) -- Americold Realty Trust, Inc. (NYSE: COLD) (the “Company” or “Americold”), a global leader in temperature-controlled logistics, real estate, and value-added services focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, announced today that its operating partnership, Americold Realty Operating Partnership, L.P., a Delaware limited partnership (the “Operating Partnership”), has priced an underwritten public offering of
The Operating Partnership intends to use the net proceeds from the offering to repay a portion of the outstanding borrowings under its revolving credit facility, pay fees and expenses incurred in connection with the offering of the Notes and, to the extent there are any remaining proceeds therefrom, for general corporate purposes.
BofA Securities, Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, Truist Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, PNC Capital Markets LLC and Rabo Securities USA, Inc. are acting as joint book-running managers for the offering. Citizens JMP Securities, LLC, Huntington Securities, Inc. and Regions Securities LLC are acting as senior co-managers for the offering, and HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., Scotia Capital (USA) Inc. and Fifth Third Securities, Inc. are acting as co-managers for the offering.
The offering is being made pursuant to an effective shelf registration statement filed by the Americold Entities with the U.S. Securities and Exchange Commission (the “SEC”). The offering will be made only by means of the prospectus supplement and accompanying prospectus. The preliminary prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC’s website at http://www.sec.gov. A copy of the final prospectus supplement and accompanying prospectus related to the offering may be obtained, when available, from: (i) BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at dg.prospectus_requests@bofa.com, or by telephone at 1-800-294-1322, (ii) J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, or by telephone at 1-212-834-4533, (iii) RBC Capital Markets, LLC, Brookfield Place, 200 Vesey Street, 8th Floor, New York, NY 10281, Attention: Syndicate Operations, or by email at rbcnyfixedincomeprospectus@rbccm.com, or by telephone at 1-866-375-6829, or (iv) Truist Securities, Inc., 50 Hudson Yards, 70th Floor, New York, NY 10001, Attention: Debt Capital Markets, or by email at TruistSecurities.prospectus@Truist.com, or by telephone at 1-800-685-4786.
Before making an investment in the Securities, potential investors should read the prospectus supplement and accompanying prospectus and the other documents that the Operating Partnership or the Guarantors have filed and will file with the SEC for more complete information about the Operating Partnership and the offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction.
About the Company
Americold is a global leader in temperature-controlled logistics real estate and value-added services. Focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, Americold owns and/or operates 239 temperature-controlled warehouses, with approximately 1.4 billion refrigerated cubic feet of storage, in North America, Europe, Asia-Pacific, and South America. Americold’s facilities are an integral component of the supply chain connecting food producers, processors, distributors and retailers to consumers.
Forward-Looking Statements
This press release contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements are based on our beliefs, assumptions and expectations of our future financial and operating performance and growth plans, taking into account the information currently available to us. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the expectations of future results we express or imply in any forward-looking statements, and you should not place undue reliance on such statements. Factors that could contribute to these differences include the following: rising inflationary pressures, increased interest rates and operating costs; labor and power costs; labor shortages; our relationship with our associates, the occurrence of any work stoppages or any disputes under our collective bargaining agreements and employment related litigation; the impact of supply chain disruptions; risks related to rising construction costs; risks related to expansions of existing properties and developments of new properties, including failure to meet budgeted or stabilized returns within expected time frames, or at all, in respect thereof; uncertainty of revenues, given the nature of our customer contracts; acquisition risks, including the failure to identify or complete attractive acquisitions or failure to realize the intended benefits from our acquisitions; difficulties in expanding our operations into new markets; uncertainties and risks related to public health crises; a failure of our information technology systems, systems conversions and integrations, cybersecurity attacks or a breach of our information security systems, networks or processes; risks related to implementation of the new enterprise resource planning system; defaults or non-renewals of significant customer contracts; risks related to privacy and data security concerns, and data collection and transfer restrictions and related foreign regulations; changes in applicable governmental regulations and tax legislation; risks related to current and potential international operations and properties; actions by our competitors and their increasing ability to compete with us; changes in foreign currency exchange rates; the potential liabilities, costs and regulatory impacts associated with our in-house trucking services and the potential disruptions associated with our use of third-party trucking service providers for transportation services to our customers; liabilities as a result of our participation in multi-employer pension plans; risks related to the partial ownership of properties, including our joint venture investments; risks related to natural disasters; adverse economic or real estate developments in our geographic markets or the temperature-controlled warehouse industry; risks associated with the ownership of real estate and temperature-controlled warehouses in particular; changes in real estate and zoning laws and increases in real property tax rates; general economic conditions; possible environmental liabilities; uninsured losses or losses in excess of our insurance coverage; financial market fluctuations; our failure to obtain necessary outside financing on attractive terms, or at all; risks related to, or restrictions contained in, our debt financings; decreased storage rates or increased vacancy rates; the potential dilutive effect of our common stock offerings, including our ongoing at the market program; the cost and time requirements as a result of our operation as a publicly traded real estate investment trust (“REIT”); and our failure to maintain our status as a REIT.
Words such as “anticipates,” “believes,” “continues,” “estimates,” “expects,” “goal,” “objectives,” “intends,” “may,” “opportunity,” “plans,” “potential,” “near-term,” “long-term,” “projections,” “assumptions,” “projects,” “guidance,” “forecasts,” “outlook,” “target,” “trends,” “should,” “could,” “would,” “will” and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements may contain such words. We qualify any forward-looking statements entirely by these cautionary factors. Other risks, uncertainties and factors, including those discussed under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, and other reports filed with the SEC, could cause our actual results to differ materially from those projected in any forward-looking statements we make. We assume no obligation to update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future except to the extent required by law.
Contacts:
Americold Realty Trust, Inc.
Investor Relations
Telephone: 678-459-1959
Email: investor.relations@americold.com
Source: Americold Realty Trust
FAQ
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