Phillips Edison & Company Announces Upsized Award


CINCINNATI, September 29, 2021 (GLOBE NEWSWIRE) – Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the largest owners and operators of omnichannel grocery stores in the country. entrenched neighborhood shopping centers, today announced that its operating partnership, Phillips Edison Grocery Center Operating Partnership I, LP (the “Operating Partnership”), has priced a public offering of $ 350 million. dollars in the aggregate principal amount of 2.625% Senior Notes due 2031 (the “” Notes ”). The Notes were valued at 98.692% of the Principal Amount and will mature on November 15, 2031. The Notes were valued at 98.692% of the Principal Amount and will mature on November 15, 2031. The offer is expected to be settled on October 6, 2021, subject to satisfaction of customary closing conditions The Notes will be fully and unconditionally guaranteed by PECO.

The operating partnership intends to use the net proceeds of the offering to repay outstanding debt, including the $ 150 million balance of its term loan maturing in 2023, and for general corporate purposes. the business, including funding for future investing activities.

Wells Fargo Securities, BofA Securities, JP Morgan, PNC Capital Markets LLC, BMO Capital Markets, Capital One Securities, Fifth Third Securities, Inc., KeyBanc Capital Markets, Mizuho Securities, Morgan Stanley, Regions Securities LLC and US Bancorp acted as that common book – managers of the offer. Ramirez and Co., Inc. acted as co-manager of the offering.

The Notes are being offered pursuant to a current registration statement filed by the Company and the operating partnership with the Securities and Exchange Commission (“SEC”). The offer will be made only by means of the prospectus supplement and the accompanying prospectus. The preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at A copy of the Final Prospectus Supplement and accompanying prospectus related to the Offer can be obtained, when available, by contacting Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, Minnesota 55402, Attn : WFS Customer Service, by phone at (800) 645-3751, or by email at [email protected]; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn .: Prospectus Department, or by email at [email protected]; JP Morgan Securities LLC, 383 Madison Ave, New York, NY 10179 or by phone at (212) 834-4533; or PNC Capital Markets LLC, 300 Fifth Ave, Pittsburgh, PA 15222, Attention: Securities Settlement or by email at [email protected] or toll free at 855-881-0697.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of such securities in any state or other jurisdiction in which such offer, solicitation or sale would be illegal prior to registration or qualification. under the securities laws of such state or other jurisdiction.

About Phillips Edison & Company
Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”) is one of the largest owners and operators of neighborhood omnichannel grocery store malls. Founded in 1991, PECO is a vertically integrated operating platform with a nationwide presence of busy shopping centers. CEEC centers include a mix of national and regional retailers providing essential goods and services in fundamentally strong markets across the United States. PECO’s main grocery stores are Kroger, Publix, Albertsons and Ahold Delhaize. As of June 30, 2021, PECO manages 294 shopping centers, including 272 wholly-owned centers representing approximately 31 million square feet in 31 states and 22 shopping centers owned in two institutional joint ventures. PECO focuses exclusively on creating great omnichannel shopping experiences anchored in the grocery store and improving communities, one mall at a time.

Forward-looking statements
Certain statements contained in this press release other than historical facts may be considered as forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. , as amended. The Company intends that all such forward-looking statements be covered by the safe harbor provisions applicable to forward-looking statements contained in such laws. Such forward-looking statements can generally be identified by the use by the Company of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “anticipate”, ” estimate “,” believe “,” continue to “,” seek “,” objective “,” objective “,” strategy “,” plan “,” focus “,” priority “,” should “,” could “,” ” “Optimistic” or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Such statements include, in particular, statements about the plans, strategies, distributions and prospects of the Company, including the use of the proceeds of the offering, and are subject to certain risks and uncertainties, including known risks and unknowns, which could cause actual results to differ materially from those projected or anticipated. These risks include, but are not limited to, (i) the risk that the offer will not be completed under the terms offered or not at all; (ii) the economic, political and social impact of the COVID-19 pandemic and the uncertainty associated with it; (iii) changes in national, regional or local economic climates; (iv) local market conditions, including an oversupply of space or a reduction in demand for properties similar to those in the Company’s portfolio; (v) vacant housing, changes in market rental rates and the need to periodically repair, renovate and re-let space; (vi) changes in interest rates and the availability of permanent mortgage financing; (vii) competition from other available properties and the attractiveness of the properties in the Company’s portfolio for its tenants; (viii) financial stability of tenants, including the ability of tenants to pay rent; (ix) changes in tax, real estate, environmental and zoning laws; (x) the concentration of the Company’s portfolio in a limited number of industries, geographic areas or investments; and (xi) any other risk included in the documents filed by the Company with the SEC. Therefore, these statements are not intended to be a guarantee of the performance of the Company in future periods.

Other important factors that could cause actual results to differ are described in documents filed from time to time by the Company with the SEC and include risk factors and other risks and uncertainties described in the Company’s annual report. on Form 10-K for the year. ended December 31, 2020, filed with the SEC on March 12, 2021, and quarterly reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021, filed with the SEC on May 4, 2021 and August 5, 2021, respectively, in each case as updated from time to time in the Company’s other periodic and / or current reports filed with the SEC, which are available on the SEC’s website at www. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements contained in this press release.

Phillips Edison & Company, Inc.
Michael Koehler, Vice President of Investor Relations
(513) 338-2743
[email protected]

Source: Phillips Edison & Company, Inc.


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