0001193125-21-006318.txt : 20210111 0001193125-21-006318.hdr.sgml : 20210111 20210111163828 ACCESSION NUMBER: 0001193125-21-006318 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20210111 DATE AS OF CHANGE: 20210111 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: 21521234 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 d101540dfwp.htm FWP FWP

Issuer Free Writing Prospectus

Filed pursuant to Rule 433

Registration No. 333-224538-01

January 11, 2021

Duke Realty Limited Partnership

Pricing Term Sheet

$450,000,000 1.750% Senior Notes due 2031

This pricing term sheet is qualified in its entirety by reference to the Issuer’s preliminary prospectus supplement dated January 11, 2021 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 2031

 

Issuer:    Duke Realty Limited Partnership
Title of Security:    1.750% Senior Notes due 2031
Ranking:    Senior Unsecured Notes
Principal Amount:    $450,000,000
Gross Proceeds:    $446,634,000
Net Proceeds (before expenses):    $443,709,000
Maturity Date:    February 1, 2031
Coupon:    1.750%
Public Offering Price:    99.252%, plus accrued interest from January 21, 2021
Yield to Maturity:    1.832%
Spread to Benchmark Treasury:    70 basis points
Benchmark Treasury:    0.875% due November 15, 2030
Benchmark Treasury Price / Yield:    97-19+ / 1.132%

Interest Payment Dates:    February 1 and August 1, beginning August 1, 2021
Optional Redemption:    Prior to November 1, 2030, at the Make-Whole Amount of Treasury plus 12.5 basis points. On or after November 1, 2030, the notes will not include a Make-Whole Amount.
Trade Date:    January 11, 2021
Settlement Date:    T+7; January 21, 2021
Distribution:    SEC registered
CUSIP:    26441Y BF3
ISIN:    US26441YBF34
Denominations/Multiple:    $2,000 x $1,000
Joint Bookrunners:    J.P. Morgan Securities LLC
   Barclays Capital Inc.
   RBC Capital Markets, LLC
   Wells Fargo Securities, LLC
   Regions Securities LLC
   U.S. Bancorp Investments, Inc.
Co-Managers:    Citigroup Global Markets Inc.
   Morgan Stanley & Co. LLC
   PNC Capital Markets LLC
   Samuel A. Ramirez & Company, Inc.
   Scotia Capital (USA) Inc.
   Truist Securities, Inc.
   UBS Securities LLC
Use of Proceeds:    The company intends to allocate an amount equal to the net proceeds from the offering to the financing or 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 call)
Barclays Capital Inc.    1-888-603-5847 (toll free)
RBC Capital Markets, LLC    1-866-375-6829 (toll free)
Wells Fargo Securities, LLC    1-800-645-3751 (toll free)

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