DEA - Easterly Government Properties to issue up to $250M in senior notes

Easterly Government Properties (DEA) entered into a note purchase agreement to issue up to $250M principal amount of fixed rate senior unsecured notes.Notes will be issued in two tranches - $50M 2.62% Senior Notes, Series A, due Oct. 14, 2028 and $150M 2.89% Senior Notes, Series B, due Oct. 14, 2030.The weighted average maturity of the notes is 8.5 years, and the weighted average interest rate is 2.82%.Notes are expected to be issued on Oct.14.DEA's operating partnership has the option to increase the Series B tranche of the Notes up to a principal amount of $200M."Through this transaction, we were able to extend our debt maturities and provide additional dry powder for future acquisitions at a cost of debt that reflects the superior credit quality of our underlying U.S. Government tenant," CFO Meghan G. Baivier commented.

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Easterly Government Properties to issue up to $250M in senior notes