CENTERSPACE

CSR
Delayed Quote. Delayed  - 12/08 04:10:00 pm
110.36USD +0.25%

Centerspace announced that it has received $125 million in funding from a group of investors

09/17/2021 | 12:00am
Centerspace announced that it has entered into a note purchase agreement with investors for a private placement of senior unsecured promissory notes for gross proceeds of $125,000,000 on September 17, 2021. The company issued (i) series 2021-A senior notes due September 17, 2030, bearing interest at a rate of 2.5% per year for proceeds of $35,000,000 (ii) series 2021-B senior notes due September 17, 2031, bearing an interest rate of 2.62% per year for proceeds of $50,000,000 (iii) series 2021-C senior notes due September 17, 2032, bearing an interest rate of 2.68% per year for proceeds of $25,000,000 and (iv) series 2021-D senior notes due September 17, 2034, bearing an interest rate of 2.78% for proceeds of $15,000,000 in the transaction. The interest on notes is payable quarterly. The notes of each series shall be subject to prepayment, in whole at any time or from time to time in part (in integral multiples of $500,000 and in a minimum amount of $1,000,000 on any one occurrence), at the option of the company, at 100% of the principal amount so prepaid plus interest thereon to the prepayment date and the Yield-Maintenance Amount, if any, with respect to each such note, so long as, at the time of such prepayment, and after giving effect thereto, no default or event of default shall be in existence. The transaction included participation from Allianz Life Insurance Company of North America, Nationwide Life and Annuity Insurance Company, Nationwide Life Insurance Company, Prudential Annuities Life Assurance Corporation, The Prudential Insurance Company of America, Inc., The Prudential Life Insurance Co., Ltd., and Nassau Life Insurance Company.
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