Latham & Watkins Advises on Agree Realty’s Pricing of US$450 Million of 5.625% Senior Unsecured Notes

Agree Realty Corporation (NYSE: ADC) has announced that its operating partnership, Agree Limited Partnership, priced a public offering of US$450 million of its 5.625% senior unsecured notes due 2034. The public offering price for the Notes was 98.827% of the principal amount for an effective yield to maturity of 5.779%. The Notes will be senior unsecured obligations of the Operating Partnership, guaranteed by the Company and certain of their subsidiaries. This offering is expected to close on May 13, 2024, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP advised the underwriters in the offering, with a team led by Los Angeles partner Julian Kleindorfer, Century City partner Lewis Kneib, and Chicago partner Jonathan Sarna, with associates Andrew Bentz, Will Coughlin, and Steve Hess. Advice was provided on tax matters by Century City partner Ana O’Brien, with associate Joe Marcus.