Try these styles:
p.event_desc {
font: bold 12px "Helvetica Neue", Helvetica, Arial, sans-serif;
line-height: 14px;
height:75px;
margin: 0px;
display: table-cell;
vertical-align: middle;
padding: 10px;
border: 1px solid #f00;
}
<p class="event_desc">lorem ipsum</p>