Convertibles Calendar: Rexford Industrial Realty on deck

March 26

REXFORD INDUSTRIAL REALTY INC.

• $500 million tranche of three-year exchangeable notes; $500 million tranche of five-year exchangeable notes

• $75 million greenshoe on each tranche

• Three-year notes talked with coupon of 3.875% to 4.375% and initial conversion premium of 30% to 35%; five-year tranche with coupon of 3.875% to 4.375% and initial conversion premium of 30% to 35%

• Rule 144A

• BofA Securities Inc. (lead left)

• Three-year tranche non-callable; five-year tranche non-callable until May 20, 2027 and then subject to a 130% hurdle

• Putable upon a fundamental change

• Proceeds for general corporate purposes, including future acquisitions and redevelopment activity

• Los Angeles-based REIT focused on industrial properties

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