W. P. Carey Inc. (NYSE: WPC) announced today that it has priced an underwritten public offering of $500 million aggregate principal amount of 2.400% Senior Notes due 2031. The Notes were offered at 99.099% of the principal amount.

Interest on the Notes will be paid semi-annually on February 1 and August 1 of each year, beginning on February 1, 2021. The offering of the Notes is expected to settle on October 14, 2020, subject to customary closing conditions. W. P. Carey Inc. intends to use the net proceeds from this offering to repay certain indebtedness, including amounts outstanding under its unsecured revolving credit facility, which was used in part to repay secured mortgage debt outstanding, to fund potential future acquisitions, and for general corporate purposes.

Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and U.S. Bancorp Investments, Inc. acted as joint book-running managers for the Notes offering.

W. P. Carey Inc.

W. P. Carey Inc. is a diversified real estate investment trust and a leading owner of commercial real estate, net leased to companies located primarily in North America and Europe on a long-term basis.