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Essex Property Trust Prices $350 Million of Senior Notes Due 2036

BY MT Newswires | CORPORATE | 12/03/25 04:39 PM EST

04:39 PM EST, 12/03/2025 (MT Newswires) -- Essex Property Trust (ESS) said Wednesday its operating partnership Essex Portfolio has priced an underwritten public offering of $350 million of 4.875% senior notes due 2036.

The notes were priced at 99.093% of par value with a yield to maturity of 4.988%, the company said, adding the offering is expected to close on Dec. 12.

Proceeds will be used to repay debt maturities, including to back part of the repayment of Essex Portfolio's $450 million of 3.375% senior notes due April 2026, as well as for general corporate and working capital purposes, the company said.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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