0001193125-20-175584.txt : 20200622 0001193125-20-175584.hdr.sgml : 20200622 20200622161433 ACCESSION NUMBER: 0001193125-20-175584 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200622 DATE AS OF CHANGE: 20200622 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DUKE REALTY Ltd 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: 20978935 BUSINESS ADDRESS: STREET 1: 8711 RIVER CROSSING BLVD CITY: INDIANAPOLIS STATE: IN ZIP: 46240 BUSINESS PHONE: 3178086000 MAIL ADDRESS: STREET 1: 8711 RIVER CROSSING BLVD CITY: INDIANAPOLIS STATE: IN ZIP: 46240 FORMER COMPANY: FORMER CONFORMED NAME: DUKE REALTY LIMITED PARTNERSHIP/ DATE OF NAME CHANGE: 20010702 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 Ltd 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: 8711 RIVER CROSSING BLVD CITY: INDIANAPOLIS STATE: IN ZIP: 46240 BUSINESS PHONE: 3178086000 MAIL ADDRESS: STREET 1: 8711 RIVER CROSSING BLVD CITY: INDIANAPOLIS STATE: IN ZIP: 46240 FORMER COMPANY: FORMER CONFORMED NAME: DUKE REALTY LIMITED PARTNERSHIP/ DATE OF NAME CHANGE: 20010702 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 d920877dfwp.htm FWP FWP

Issuer Free Writing Prospectus

Filed pursuant to Rule 433

Registration No. 333-224538-01

June 22, 2020

Duke Realty Limited Partnership

Pricing Term Sheet

$350,000,000 1.750% Senior Notes due 2030

This pricing term sheet is qualified in its entirety by reference to the Issuer’s preliminary prospectus supplement dated June 22, 2020 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.

1.750% Senior Notes due 2030

 

Issuer:    Duke Realty Limited Partnership
Title of Security:    1.750% Senior Notes due 2030
Ranking:    Senior Unsecured Notes
Principal Amount:    $350,000,000
Gross Proceeds:    $346,752,000
Net Proceeds (before expenses):    $344,477,000
Maturity Date:    July 1, 2030
Coupon:    1.750%
Public Offering Price:    99.072%, plus accrued interest from June 29, 2020
Yield to Maturity:    1.852%
Spread to Benchmark Treasury:    115 basis points
Benchmark Treasury:    0.625% due May 15, 2030
Benchmark Treasury Price / Yield:    99-08+ / 0.702%

Interest Payment Dates:    January 1 and July 1, beginning January 1, 2021
Optional Redemption:    Prior to April 1, 2030, at the Make-Whole Amount of Treasury plus 20 basis points. On or after April 1, 2030, the notes will not include a Make-Whole Amount.
Trade Date:    June 22, 2020
Settlement Date:    T+5; June 29, 2020
Distribution:    SEC registered
CUSIP:    26441Y BE6
ISIN:    US26441YBE68
Denominations/Multiple:    $2,000 x $1,000
Joint Bookrunners:    Citigroup Global Markets Inc.
   J.P. Morgan Securities LLC
   Morgan Stanley & Co. LLC
   Jefferies LLC
   Scotia Capital (USA) Inc.
   SunTrust Robinson Humphrey, Inc.
Co-Managers:    Barclays Capital Inc.
   RBC Capital Markets, LLC
   Regions Securities LLC
   Samuel A. Ramirez & Company, Inc.
   UBS Securities LLC
   U.S. Bancorp Investments, Inc.
   Wells Fargo Securities, LLC
Use of Proceeds:    The issuer intends to use the net proceeds from the offering to fund the issuer’s concurrent cash tender offer to purchase any and all of the issuer’s 3.875% Senior Notes due 2022. Any remaining net proceeds from the offering will be used for general corporate purposes, including to repay borrowings outstanding on the issuer’s unsecured senior line of credit. In the short term, the net proceeds of the sale of the notes 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:

 

Citigroup Global Markets Inc.

    1-800-831-9146 (toll free)

J.P. Morgan Securities LLC

    1-212-834-4533 (collect call)

Morgan Stanley & Co. LLC

    1-866-718-1649 (toll free)

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