Phillips Edison & Co. Inc., through its subsidiary Phillips Edison Grocery Center Operating Partnership I, L.P., has entered into a significant financing agreement by completing an underwritten public offering of $350 million in 5.250% Senior Notes due 2032. The Notes, which are fully and unconditionally guaranteed by Phillips Edison & Co. Inc., were offered in collaboration with major financial institutions including J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC. The net proceeds, estimated at approximately $346.2 million after deductions, will be used for general corporate purposes such as repaying existing debt and acquiring additional properties. The strategic move aims to enhance the company's financial flexibility and support its expansion goals.
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