W. P. Carey (WPC) to Offer Common Stock

W. P. Carey Inc. (NYSE: WPC) announced today the commencement of an underwritten public offering of an aggregate of 4,750,000 shares of common stock, offered on a forward basis in connection with the forward sale agreements described below. The underwriters of the offering have been granted a 30-day option to purchase up to an additional 712,500 shares of common stock.

W. P. Carey intends to use the proceeds, if any, received upon the settlement of the forward sale agreements (and from the sale of any shares of its common stock that it may sell to the underwriters in lieu of the forward purchasers (or their affiliates) selling its common stock to the underwriters) to repay certain indebtedness, including amounts outstanding under its $1.8 billion senior unsecured revolving credit facility, to fund development and redevelopment activities and potential future acquisitions, and for general corporate purposes.

J.P. Morgan, BofA Securities and Barclays will act as joint book-running managers for the offering.

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