05:15 PM EDT, 09/10/2024 (MT Newswires) -- American Assets Trust ( AAT ) said Tuesday that its operating partnership has priced a $525 million public offering of 6.150% senior notes due 2034.

The offering is expected to close on Sept. 17, subject to completion of customary closing conditions.

The operating partnership, American Assets Trust LP, said it plans to use net proceeds for the repayment of the operating partnership's series B senior guaranteed notes, series C senior guaranteed notes, borrowings under revolver loan, as well as for working capital and general corporate purposes.

The notes will mature on Oct. 1, 2034, according to the company.