Agree Realty Corporation (NYSE: ADC) (the Company) has announced that its operating partnership, Agree Limited Partnership (the Operating Partnership), priced a public offering of US$400 million of its 5.650% senior unsecured notes due 2036 (the Notes). The public offering price for the Notes was 98.497% of the principal amount for an effective yield to maturity of 5.849%. The Notes will be senior unsecured obligations of the Operating Partnership, guaranteed by the Company and certain of their subsidiaries. This offering is expected to close on September 22, 2026, subject to the satisfaction of customary closing conditions.
Latham & Watkins LLP advised the underwriters in the transaction with a Capital Markets team led by Los Angeles/New York partners Julian Kleindorfer and Lewis Kneib and Chicago partner Jonathan Sarna, with associates Andrew Bentz, Will Coughlin, and Steve Hess. Advice was also provided on tax matters by Los Angeles partner Ana O’Brien, with associate Daniel Mousseri.
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