Exhibit 99.1
EPR Properties Prices $400.0 Million of 3.600 % Senior Notes due 2031
KANSAS CITY, Mo.—October 13, 2021 – EPR Properties (NYSE:EPR) (the “Company”) announced today that it has priced an underwritten public offering of $400.0 million of 3.600 % Senior Notes due 2031. None of the Company’s subsidiaries will initially guarantee the notes. However, certain of the Company’s domestic subsidiaries will be obligated to guarantee the notes under certain circumstances. The offering is expected to close on October 27, 2021, subject to customary closing conditions.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Barclays Capital Inc., RBC Capital Markets, LLC, BNP Paribas Securities Corp., Stifel, Nicolaus & Company, Incorporated and Truist Securities, Inc. are acting as joint book-running managers for the offering. U.S. Bancorp Investments, Inc. and UMB Financial Services, Inc. are acting as co-managers for the offering.
The Company intends to use the net proceeds from the offering principally to redeem all of the Company’s 5.250% Senior Notes due 2023, and the balance of net proceeds, if any, will be used for general corporate purposes, including funding the Company’s ongoing pipeline of acquisition and build-to-suit projects.
The notes will be issued pursuant to a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission on Form S-3. A written prospectus and prospectus supplement relating to the offering, when available, may be obtained by contacting J.P. Morgan Securities LLC, at 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, or by calling (212) 834-4533; Citigroup Global Markets Inc., at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by emailing prospectus@citi.com or calling (800) 831-9146; Barclays Capital Inc., at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by emailing Barclaysprospectus@broadridge.com or by calling (888) 603-5847; or RBC Capital Markets, LLC, at 200 Vesey Street, 8th Floor, New York, NY 10281, Attn: Transaction Management, by calling (866) 375-6829 or by emailing rbcnyfixedincomeprospectus@rbccm.com. You may also get these documents free by visiting EDGAR on the SEC website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration under the securities laws of any such state or jurisdiction.
About EPR Properties
EPR Properties is the leading diversified experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties in the real estate industry. We focus on real estate venues which create value by facilitating out-of-home leisure and recreation experiences where consumers choose to spend their discretionary time and money. We have nearly $6.5 billion in total investments across 44 states. We adhere to rigorous underwriting and investing criteria centered on key industry, property and tenant level cash flow standards. We believe our focused approach provides a competitive advantage and the potential for stable and attractive returns.
Contact
EPR Properties
Brian Moriarty 1-(816) 472-1700
Vice President – Corporate Communications
brianm@eprkc.com