Terreno Realty Corporation Announces Private Placement of $125 Million 2.38% Nine-Year Senior Unsecured Notes
Terreno Realty Corporation (NYSE: TRNO) announced a private placement of $125 million in nine-year senior unsecured notes with a fixed interest rate of 2.38%. The offering, expected to close around October 28, 2021, aims to finance future acquisitions and support other corporate purposes. KeyBanc Capital Markets and U.S. Bancorp Investments acted as joint-lead placement agents. The notes are not registered under the Securities Act and were sold in reliance on an exemption.
- Successfully secured $125 million in financing.
- Interest rate of 2.38% is relatively low and favorable for long-term borrowing.
- Proceeds will fund growth through future acquisitions.
- None.
Terreno Realty Corporation (NYSE: TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today the private placement of
The nine-year
KeyBanc Capital Markets and U.S. Bancorp Investments, Inc. acted as joint-lead placement agents for the offering. The notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and were offered and sold in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act.
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “might”, “plan”, “project”, “result”, “should”, “will”, “seek”, “target”, “see”, “likely”, “position”, “opportunity”, “outlook” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, the impact of the COVID-19 pandemic on our business, our tenants and the national and local economies, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2020 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210818005075/en/
FAQ
What is the purpose of Terreno Realty Corporation's recent $125 million note offering?
When is the expected closing date for Terreno Realty Corporation's note offering?
What is the interest rate on the $125 million notes issued by Terreno Realty Corporation?
Who acted as placement agents for Terreno Realty Corporation's note offering?
Are the notes issued by Terreno Realty Corporation registered under the Securities Act?
