on Gladstone Commercial Corporation (NASDAQ:GOOD)
Gladstone Commercial Secures $75 Million in Debt Notes
Gladstone Commercial Corporation, based in McLean, VA, announced its subsidiary, Gladstone Commercial Limited Partnership, has issued $75 million in senior unsecured notes. These notes bear a 6.47% interest rate and are due by December 18, 2029. The transaction was a private placement with institutional investors.
The proceeds will be directed towards repaying existing debts under their unsecured revolving credit facility, partially pre-paying a $60 million Term Loan B, and for other corporate needs. Buzz Cooper, the company's President, remarked on this strategic shift towards long-term unsecured debt markets.
KeyBanc Capital Markets Inc. led the placement, with several other financial institutions co-acting. Legal counsel for the transaction was provided by multiple firms including Squire Patton Boggs and Venable LLP.
R. E.
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