Federal Realty Prices Upsized $425M 3.25% Exchangeable Senior Notes Due 2029

Author: Benzinga Newsdesk | January 09, 2024 02:45am

Federal Realty Investment Trust announced that on January 8, 2024, its operating partnership, Federal Realty OP LP (the "Partnership"), priced and upsized the previously announced offering (the "Offering") of $425 million aggregate principal amount of 3.25% exchangeable senior notes due 2029 (the "notes") in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Partnership also granted the initial purchasers of the notes an option to purchase up to an additional $60 million aggregate principal amount of notes. The Offering is expected to close on January 11, 2024, subject to customary closing conditions.

Posted In: FRT