Duke Realty – Pricing Terms – $450 Million Senior Unsecured Notes

Duke Realty – Pricing Terms – $450 Million Senior Unsecured Notes

INDIANAPOLIS, IN (STL.News) Duke Realty Corporation (NYSE: DRE), a leading industrial property REIT, announced today that its operating partnership, Duke Realty Limited Partnership (the “Operating Partnership”), has priced an underwritten public offering of $450 million of its 1.75% senior unsecured notes due February 1, 2031.  The notes were priced at 99.252% of their face amount to yield 1.832% to maturity.  The offering is expected to close on January 21, 2021, subject to the satisfaction of customary closing conditions.

The Operating Partnership intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, one or more recently completed or future “Eligible Green Projects,” which may include certain “green buildings,” energy efficiency projects, sustainable water and wastewater management systems, renewable energy projects, clean transportation solutions, and pollution prevention and control.

J.P. Morgan Securities LLC acted as Green Structuring Agent to the issuer and joint book-running manager.  Barclays Capital Inc., RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Regions Securities LLC, and U.S. Bancorp Investments, Inc. acted as joint book-running managers.  Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, PNC Capital Markets LLC, Samuel A. Ramirez & Company, Inc., Scotia Capital (USA) Inc., Truist Securities, Inc., and UBS Securities LLC acted as co-managers.

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