Latham Represents Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P. in US$1.15 Billion Exchangeable Senior Notes Offering and US$840 Million Concurrent Forward Equity Offering
Latham & Watkins has represented Rexford Industrial Realty, Inc. (NYSE: REXR), a company that creates value by investing in, operating, and redeveloping industrial properties throughout infill Southern California, in an offering of US$575 million aggregate principal amount of 4.375% exchangeable senior notes due 2027 and US$575 million aggregate principal amount of 4.125% exchangeable senior notes due 2029 of its operating partnership, Rexford Industrial Realty, L.P., which included the full exercise of the initial purchasers’ option to purchase an additional US$75 million aggregate principal amount of 2027 notes and an additional US$75 million aggregate principal amount of 2029 notes. The notes were sold in a private offering only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933.
Latham also represented Rexford Industrial in a concurrent underwritten public offering of US$840 million of shares of its common stock in which the shares were sold to an existing long-only investor based on the West Coast at a price per share of US$48.95.
Latham represented Rexford Industrial in the US$1.15 billion exchangeable senior notes offering with a capital markets team led by Century City partner Brent Epstein, Los Angeles partner Arash Aminian Baghai, New York/Los Angeles partner Greg Rodgers, and Los Angeles partner Brad Helms, with associates Devon MacLaughlin, Andrew Bentz, Celia Mishra, Daniel Weiss, and Joy Chen. Advice was also provided on tax matters by Century City/Los Angeles partner Pardis Zomorodi, New York partner Elena Romanova, Los Angeles partner Eric Cho, with associates Kathryn Harrington and Jacob Nagelberg.
Latham represented Rexford Industrial in the concurrent forward equity offering with a capital markets team led by Century City partner Brent Epstein and Los Angeles partner Brad Helms, with associates Devon MacLaughlin, Celia Mishra, and Joy Chen. Advice was also provided on tax matters by Century City/Los Angeles partner Pardis Zomorodi, New York partner Elena Romanova, Los Angeles partner Eric Cho, with associates Kathryn Harrington and Jacob Nagelberg; and on equity derivatives matters by New York partner Reza Mojtabaee-Zamani, with associate Jack Neff.