0001193125-19-284681.txt : 20191105 0001193125-19-284681.hdr.sgml : 20191105 20191105155402 ACCESSION NUMBER: 0001193125-19-284681 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20191105 DATE AS OF CHANGE: 20191105 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DUKE REALTY LIMITED PARTNERSHIP/ CENTRAL INDEX KEY: 0001003410 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 351898425 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-224538-01 FILM NUMBER: 191193161 BUSINESS ADDRESS: STREET 1: 600 EAST 96TH STREET STREET 2: SUITE 100 CITY: INDIANAPOLIS STATE: IN ZIP: 46240 BUSINESS PHONE: 3178086000 MAIL ADDRESS: STREET 1: 600 EAST 96TH STREET STREET 2: SUITE 100 CITY: INDIANAPOLIS STATE: IN ZIP: 46240 FORMER COMPANY: FORMER CONFORMED NAME: DUKE WEEKS REALTY LIMITED PARTNERSHIP DATE OF NAME CHANGE: 19990716 FORMER COMPANY: FORMER CONFORMED NAME: DUKE REALTY LIMITED PARTNERSHIP DATE OF NAME CHANGE: 19951114 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DUKE REALTY LIMITED PARTNERSHIP/ CENTRAL INDEX KEY: 0001003410 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 351898425 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 600 EAST 96TH STREET STREET 2: SUITE 100 CITY: INDIANAPOLIS STATE: IN ZIP: 46240 BUSINESS PHONE: 3178086000 MAIL ADDRESS: STREET 1: 600 EAST 96TH STREET STREET 2: SUITE 100 CITY: INDIANAPOLIS STATE: IN ZIP: 46240 FORMER COMPANY: FORMER CONFORMED NAME: DUKE WEEKS REALTY LIMITED PARTNERSHIP DATE OF NAME CHANGE: 19990716 FORMER COMPANY: FORMER CONFORMED NAME: DUKE REALTY LIMITED PARTNERSHIP DATE OF NAME CHANGE: 19951114 FWP 1 d825511dfwp.htm FWP FWP

Issuer Free Writing Prospectus

Filed pursuant to Rule 433

Registration No. 333-224538-01

November 5, 2019

Duke Realty Limited Partnership

Pricing Term Sheet

$400,000,000 2.875% Senior Notes due 2029

This pricing term sheet is qualified in its entirety by reference to the Issuer’s preliminary prospectus supplement dated November 5, 2019 and the accompanying prospectus (together, the “Preliminary Prospectus”). The information in this pricing term sheet supplements the Preliminary Prospectus and updates and supersedes the information in the Preliminary Prospectus to the extent it is inconsistent with the information in the Preliminary Prospectus. Capitalized terms used and not defined herein have the meanings assigned to them in the Preliminary Prospectus.

2.875% Senior Notes due 2029

 

Issuer:    Duke Realty Limited Partnership
Title of Security:    2.875% Senior Notes due 2029
Ranking:    Senior Unsecured Notes
Size:    $400,000,000
Gross Proceeds:    $399,932,000
Net Proceeds (before expenses):    $397,332,000
Maturity Date:    November 15, 2029
Coupon:    2.875%
Public Offering Price:    99.983%, plus accrued interest from November 15, 2019
Yield to Maturity:    2.877%
Spread to Benchmark Treasury:    +102 basis points
Benchmark Treasury:    1.625% due August 15, 2029
Benchmark Treasury Price / Yield:    97-30 / 1.857%

Interest Payment Dates:    May 15 and November 15, beginning May 15, 2020
Optional Redemption:    Prior to August 15, 2029, at the Make-Whole Amount of Treasury plus 15 bps. On or after August 15, 2029, the notes will not include a Make-Whole Amount.
Trade Date:    November 5, 2019
Settlement Date:    T+7; November 15, 2019
Distribution:    SEC registered
CUSIP:    26441Y BC0
ISIN:    US26441YBC03
Denominations/Multiple:    $2,000 x $1,000
Joint Bookrunners:    J.P. Morgan Securities LLC
   Citigroup Global Markets Inc.
   Morgan Stanley & Co. LLC
   U.S. Bancorp Investments, Inc.
   Jefferies LLC
   SunTrust Robinson Humphrey, Inc.
Co-Managers:    Barclays Capital Inc.
   BB&T Capital Markets, a division of BB&T Securities, LLC
   RBC Capital Markets, LLC
   Regions Securities LLC
   Samuel A. Ramirez & Company, Inc.
   Scotia Capital (USA) Inc.
   UBS Securities LLC
   Wells Fargo Securities, LLC
Use of Proceeds:    The company intends to allocate an amount equal to the net proceeds from the offering to the financing and refinancing of Eligible Green Projects, as defined in the Preliminary Prospectus. Pending such allocation, the net proceeds may be used to repay borrowings outstanding on the company’s unsecured senior line of credit and may be held in cash and cash equivalents.

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling:

 

J.P. Morgan Securities LLC    1-212-834-4533 (collect)
Citigroup Global Markets Inc.    1-800-831-9146 (toll free)
Morgan Stanley & Co. LLC    1-866-718-1649 (toll free)
U.S. Bancorp Investments, Inc.    1-877-558-2607 (toll free)

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