W. P. Carey Inc. (NYSE: WPC) announced today that it has priced an underwritten public offering of $425 million aggregate principal amount of 2.250% Senior Notes due 2033. The Notes were offered at 98.722% of the principal amount.

Interest on the Notes will be paid semi-annually on April 1 and October 1 of each year, beginning on October 1, 2021. The offering of the Notes is expected to settle on February 25, 2021, subject to customary closing conditions. W. P. Carey Inc. intends to use the net proceeds from the offering to prepay secured debt and associated prepayment penalties and to repay borrowings outstanding on its unsecured credit facility.

Wells Fargo Securities, LLC, Barclays Capital Inc. and J.P. Morgan Securities LLC acted as joint book-running managers for the Notes offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer or sale of the Notes will be made only by means of a prospectus supplement relating to the offering and the accompanying prospectus.

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.