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Centerspace Issues $125 Million of Unsecured Notes

09/20/2021 | 09:00am
Centerspace announced that the company has issued $125 million of unsecured senior notes. The transaction, organized by Prudential Private Capital, has a weighted average interest rate of 2.63% with a weighted average maturity of 10.46 years with tranches of $35 million in 2030, $50 million in 2031, $25 million in 2032 and $15 million in 2034. This is the fourth issuance of senior notes by the Company, following the issuance of $75, $50, and $50 million of senior unsecured notes to Prudential Private Capital. Centerspace intends to use the proceeds to repay existing indebtedness. The institutional investors involved in this transaction were Prudential Private Capital, Allianz Global Investors, Nationwide and Nassau Life Insurance Company.
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