Latham Advises Phillips Edison & Company in Pricing of US$350 Million in Senior Unsecured Notes

Phillips Edison & Company, Inc. (Nasdaq: PECO), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, has announced that its operating partnership, Phillips Edison Grocery Center Operating Partnership I, L.P., priced a public offering of US$350 million aggregate principal amount of 5.750% senior unsecured notes due 2034 (the Notes). The Notes were priced at 98.576% of the principal amount and will be fully and unconditionally guaranteed by PECO. The offering is expected to settle on May 13, 2024, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP represented Phillips Edison in the transaction with a corporate team led by Los Angeles partner Julian Kleindorfer and Century City partner Lewis Kneib, with associates Grace Garcea, Eric Finkelberg, Teddy Finneran, Steve Hess, and Shayna Servillas. Advice was provided on tax matters by Los Angeles partner Eric Cho, with associate Kathryn Harrington.