DUBLIN, Ireland, Jan. 11, 2024 – Griffin Global Asset Management (“Griffin”) is pleased to announce the successful re-opening of its existing $400 million 8% Senior Unsecured Notes due 2027 to add an additional $300 million of senior unsecured notes (the “Additional Notes”). With the closing of the Additional Notes on 22 December 2023, Griffin now has $700 million of senior unsecured notes due 15 February 2027. The upsized bond will carry the same coupon rate of 8% per annum, but the additional $300 million of new Notes were priced at 101 to yield 7.636% per annum.
“Following the success of our recent $400 million 2027 Notes issuance, we are very pleased to broaden our investor base through the completion of this offering of an additional $300 million of 2027 Notes. Combined with our inaugural $1 billion unsecured notes issuance in June, our issuance of $400 million of notes in November and the partial refinancing of our secured warehouse facility with a $575 million unsecured revolving credit facility, we raised over $2.2 billion of unsecured capital in 2023, which we expect will support the growth of our business in 2024 and beyond,” said John Beekman, Chief Financial Officer of Griffin Global Asset Management.
The Additional Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any jurisdiction and may be offered or sold only in a transaction exempt from, or not subject to, the registration requirements of the Securities Act. The Additional Notes were offered and sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States to non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Additional Notes, nor shall there be any sale of the Additional Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.