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OFFON

PHILLIPS EDISON & COMPANY, INC.

(PECO)
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PHILLIPS EDISON & COMPANY, INC. : Other Events, Financial Statements and Exhibits (form 8-K)

10/04/2021 | 04:28pm EST

Item 8.01 Other Events.

On September 29, 2021, Phillips Edison Grocery Center Operating Partners I, L.P. (the "Operating Partnership") and Phillips Edison & Company, Inc. (the "Company") entered into an Underwriting Agreement (the "Underwriting Agreement") with Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and PNC Capital Markets LLC, as representatives of the several underwriters named therein, relating to a public offering by the Operating Partnership of an aggregate of $350,000,000 principal amount of its 2.625% senior notes due 2031 (the "Notes"). The Notes were priced to the public at 98.692% of the principal amount. The Notes are fully and unconditionally guaranteed by the Company.

The Notes will bear interest rate at 2.625% per annum and mature on November 15, 2031. Interest on the Notes will be payable semi-annually in arrears on May 15 and November 15 of each year, commencing May 15, 2022. The offering is expected to settle on October 6, 2021, subject to the satisfaction of customary closing conditions.

The Operating Partnership intends to use the net proceeds from the offering to repay outstanding indebtedness, including the remaining balance of $150 million on its term loan due in 2023, and for general corporate purposes, including funding future investment activity.

The offering and sale of the Notes was made pursuant to a preliminary prospectus supplement, a free writing prospectus and a final prospectus supplement under the Operating Partnership's and the Company's effective registration statement on Form S-3, as amended (File Nos. 333-259059 and 333-259059-01), each of which has been filed with the Securities and Exchange Commission.

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any jurisdiction in which, or to any person to whom, such offer, solicitation or sale would be unlawful.

The foregoing is not a complete discussion of the Underwriting Agreement and is qualified in its entirety by the full text of the Underwriting Agreement attached to this Current Report on Form 8-K as Exhibit 1.1, which is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.
 Exhibit Number      Description of Exhibit
       1.1             Underwriting Agreement
                     Cover Page Interactive Data File (embedded within the Inline XBRL
       104           document).


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