Latham & Watkins Advises on Agree Realty’s US$400 Million Senior Unsecured Notes Offering

Agree Realty Corporation (NYSE: ADC) has announced that its operating partnership, Agree Limited Partnership, priced a public offering of US$400 million of its 5.600% senior unsecured notes due 2035. The public offering price for the notes was 99.297% of the principal amount for an effective yield to maturity of 5.692%. 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 23, 2025, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP represents the underwriters in the offering with a capital markets 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 also provided on tax matters by Century City partner Ana O’Brien, with associate Joe Marcus.