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DCT Industrial Trust® Announces Pricing of Add-On Offering of 4.500% Senior Unsecured Notes Due 2023

DENVER--(BUSINESS WIRE)--

DCT Industrial Trust Inc.® (the “Company”) (DCT) today announced that its operating partnership subsidiary, DCT Industrial Operating Partnership LP (the “Operating Partnership”), priced an offering of $50.0 million aggregate principal amount of 4.500% senior unsecured notes due 2023 (the “Notes”) in an underwritten public offering. The Notes were priced at 103.880% of the principal amount, plus accrued and unpaid interest from, and including, October 15, 2016 to, and excluding, the anticipated settlement date. The Notes will mature on October 15, 2023, unless earlier redeemed. The offering is expected to close on March 16, 2017, subject to the satisfaction of customary closing conditions. The Notes will be fully and unconditionally guaranteed by the Company and will form a part of the same series as the Operating Partnership’s previously issued 4.500% senior unsecured notes due 2023, $275.0 million of which are currently outstanding.

The Operating Partnership intends to use the net proceeds to repay amounts outstanding under its unsecured revolving credit facility and for general corporate purposes.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for this offering.

This offering is being made pursuant to an effective shelf-registration statement previously filed with the Securities and Exchange Commission (the “SEC”) and only by means of a prospectus and related prospectus supplement. You may obtain copies of these documents without charge from the SEC at www.sec.gov. Alternatively, you may request copies of these materials by contacting J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York, 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, Telephone: 1-212-834-4533; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: 1-800-831-9146, email: prospectus@citi.com; or Wells Fargo Securities, LLC, 608 2nd Avenue South, Minneapolis, MN 55402, Attention: WFS Customer Service, Telephone: 1-800-645-3751, email: wfscustomerservice@wellsfargo.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About DCT Industrial Trust®

DCT Industrial is a leading industrial real estate company specializing in the ownership, acquisition, development, leasing and management of bulk-distribution and light-industrial properties in high-demand distribution markets in the United States. As of December 31, 2016, the Company owned interests in approximately 74.0 million square feet of properties leased to approximately 900 customers. Additional information is available at www.dctindustrial.com.

Forward-Looking Information

This press release contains forward-looking statements within the meaning of the Federal securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and could materially affect actual results, performance or achievements. These factors include, without limitation, the Operating Partnership’s ability to close the offering, the use of proceeds therefrom and other risks and uncertainties detailed from time to time in the Company’s and the Operating Partnership’s filings with the Securities and Exchange Commission.

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