Essential Properties Realty Trust, Inc. - Form 8-K (Debt Offering)

Essential Properties Realty Trust, Inc. (EPRT), through its subsidiary Essential Properties, L.P., has closed an underwritten public offering of $400,000,000 aggregate principal amount of 5.375% Senior Notes due 2036. These notes are fully and unconditionally guaranteed by EPRT. The offering was made under an effective shelf registration statement and priced at 97.469% of the principal amount. The notes are senior unsecured obligations, ranking equally with other senior unsecured indebtedness but effectively subordinated to mortgage and other secured indebtedness. The indenture governing the notes includes restrictive covenants, such as asset maintenance requirements. The notes mature on July 15, 2036, with interest payable semi-annually. EPRT has the option to redeem the notes prior to maturity at a specified redemption price, which may include a make-whole premium. Events of default are outlined, including failure to pay interest or principal, and certain bankruptcy or insolvency events. The company entered into an underwriting agreement with Wells Fargo Securities, LLC and BofA Securities, Inc. as representatives for the underwriters.