Essential Properties Realty Trust Announces $400 Million 5.400% Senior Notes Offering

Essential Properties Realty Trust has priced a $400 million public offering of 5.400% Senior Notes due 2035. The notes will mature on December 1, 2035, and the proceeds will be used to repay outstanding debt and for general corporate purposes. Wells Fargo Securities, Mizuho, and other firms are acting as joint book-running managers for the offering.

Essential Properties Realty Trust, Inc. (NYSE: EPRT) has priced a $400 million public offering of 5.400% Senior Notes due 2035. The notes, priced at 98.317% of their principal amount, will mature on December 1, 2035. The offering is expected to settle on August 21, 2025, subject to customary closing conditions. The notes will be fully and unconditionally guaranteed by the Company.

The proceeds from the offering will be used to repay amounts outstanding under the Operating Partnership's revolving credit facility and for general corporate purposes, including funding future investment activity. Wells Fargo Securities, Mizuho, BMO Capital Markets, BofA Securities, Capital One Securities, TD Securities, and Truist Securities are acting as joint book-running managers for the offering. Barclays, BNP PARIBAS, Citigroup, Citizens Capital Markets, Goldman Sachs & Co. LLC, Huntington Capital Markets, Morgan Stanley, Regions Securities LLC, Scotiabank, Stifel, and Wolfe Capital Markets and Advisory are acting as co-managers.

The offering is being made pursuant to an effective shelf registration statement filed by the Company and the Operating Partnership with the Securities and Exchange Commission (the "SEC"). A prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. When available, a copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from Wells Fargo Securities, LLC, or Mizuho Securities USA LLC, or by visiting the EDGAR database on the SEC’s website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

The press release contains forward-looking statements within the meaning of the federal securities laws. These statements involve risks and uncertainties and should not be relied upon as predictions of future events. The Company does not guarantee that the transactions and events described will happen as described.

About Essential Properties Realty Trust, Inc.

Essential Properties Realty Trust, Inc. is an internally managed real estate investment trust that acquires, owns, and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. As of June 30, 2025, the Company’s portfolio consisted of 2,190 freestanding net lease properties with a weighted average lease term of 14.3 years and a weighted average rent coverage ratio of 3.4x. In addition, as of June 30, 2025, the Company’s portfolio was 99.6% leased to tenants operating 606 different concepts across 48 states.

References:

[1] https://www.businesswire.com/news/home/20250818280775/en/Essential-Properties-Realty-Trust-Inc.-Announces-Pricing-of-%24400-Million-of-5.400-Senior-Notes-due-2035
[2] https://www.stocktitan.net/news/EPRT/essential-properties-realty-trust-inc-announces-pricing-of-400-e5007y8gz60g.html