Realty Income Corp affiliate Essential Properties Operating Partnership (NYSE: EPRT) has priced $400 million in 5.375% senior unsecured notes maturing in 2036, led by Wells Fargo Securities and BofA Securities.

Key Highlights

  • Essential Properties Operating Partnership, an affiliate of Realty Income (NYSE: EPRT), priced $400 million in 5.375% senior unsecured notes due 2036.
  • The notes were underwritten by Wells Fargo Securities and BofA Securities, acting as representatives for the offering.
  • Proceeds will be guaranteed by parent company Essential Properties Realty Trust under a supplemental indenture dated June 15, 2026.
  • The offering complies with Rule 430B under the Securities Act of 1933, allowing delayed prospectus filing.
  • Final pricing occurred on June 4, 2026, with settlement expected to follow standard SEC timelines.

Essential Properties Operating Partnership, a subsidiary of Essential Properties Realty Trust (NYSE: EPRT), has secured $400 million through a senior unsecured notes offering. The 5.375% notes mature in 2036 and were priced on June 4, 2026. Wells Fargo Securities and BofA Securities served as lead underwriters for the transaction.

The notes will be issued under an existing indenture originally dated June 28, 2021, supplemented by a third agreement effective June 15, 2026. U.S. Bank National Association acts as trustee for the offering. The parent company, Essential Properties Realty Trust, will fully guarantee principal and interest payments.

This bond offering follows SEC Rule 430B, which permits delayed prospectus filing for certain shelf registrations. The registration statement, filed under File No. 333-280265, became effective automatically upon submission. No stop orders or regulatory objections have been reported.

Proceeds from the $400 million issuance are expected to support general corporate purposes, including potential acquisitions or debt refinancing. The 5.375% coupon reflects current market conditions for investment-grade real estate issuers. Settlement is anticipated within standard SEC timelines following the June 4 pricing date.

The transaction highlights ongoing demand for REIT financing amid a competitive commercial real estate environment. Essential Properties Realty Trust, known for its single-tenant net lease portfolio, continues to leverage capital markets for growth. The notes' 10-year maturity aligns with typical REIT debt strategies.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.