Liberty Property Trust LRY,
announced today that its limited partnership subsidiary, Liberty Property
Limited Partnership, has priced a $300 million offering of 3.375% senior
unsecured notes under its existing shelf registration. The notes are due June
15, 2023 and were priced to yield 3.386%. The offering is expected to close on
December 10, 2012, subject to customary closing conditions. The proceeds will
be used to repay indebtedness outstanding under the Company's unsecured credit
facility and for general corporate purposes.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P Morgan Securities LLC,
and Wells Fargo Securities, LLC served as joint book-running managers and
Barclays Capital Inc., BB&T Capital Markets, Capital One Southcoast Inc,
Citigroup Global Markets Inc., Mitsubishi UFJ Securities (USA), Inc., Morgan
Stanley & Co. LLC, PNC Capital Markets LLC, RBS Securities Inc., SunTrust
Robinson Humphrey, Inc., The Huntingdon Investment Company, UBS Securities
LLC, and US Bancorp Investments, Inc. served as co-managers.
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