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Md. REIT to offer $175 million in notes

In this Sept. 24, 2013, file photo, freshly-cut stacks of $100 bills make their way down the line at the Bureau of Engraving and Printing Western Currency Facility in Fort Worth, Texas.(AP Photo/LM Otero, File)

In this Sept. 24, 2013, file photo, freshly-cut stacks of $100 bills make their way down the line at the Bureau of Engraving and Printing Western Currency Facility in Fort Worth, Texas.(AP Photo/LM Otero, File)

Federal Realty Investment Trust, a retail REIT based in Rockville, on Thursday announced the pricing of $175 million in 3.25 percent senior unsecured notes due in 2027.

The debt is offered at 99.404% of principal amount with a re-offer yield of 3.323 percent.

Interest on the notes will be payable each January 15 and July 15. Federal Realty expects the offering to close Dec. 21, giving the trust $475 million in notes outstanding.

The company plans to use the money from the notes to pay off all of its 5.9 percent notes due in 2020, and for other purposes.

 


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