Short answer
Phillips Edison & Company, Inc. (PECO) filed an 8-K current report with the SEC on February 26, 2026 reporting Item 2.03 (Creation of a Direct Financial Obligation), Item 8.01 (Other Events). PECO's operating partnership issued $350M of 4.750% senior unsecured notes due March 15, 2033, priced at 99.295% of par.
Phillips Edison & Company, Inc. 8-K event analysis
AI summary of each reported item and its exhibits
Item 2.03 · Creation of a Direct Financial Obligation
- PECO's operating partnership issued $350M of 4.750% senior unsecured notes due March 15, 2033, priced at 99.295% of par
- Coupon payments semi-annual (March 15 / September 15), first payment September 15, 2026
- Notes rank pari passu with existing senior unsecured debt but subordinate to all secured/mortgage obligations
- Early redemption allowed anytime pre-Jan 15, 2033 at greater of par or make-whole premium; at par thereafter
- Cross-default trigger set at $50M: failure to pay other debt above this threshold can accelerate the Notes
Item 8.01 · Other Events
- Net proceeds ~$346.5M after underwriting discount and fees from public Notes offering
- Proceeds earmarked to repay revolving credit facility, term loans, and other debt: deleveraging priority
- Remaining proceeds may fund acquisitions, capex, redevelopment, and working capital
- Underwriters include Wells Fargo, BMO, BofA, Mizuho, and PNC Capital Markets
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
Other Phillips Edison & Company, Inc. 8-K filings
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