Liberty Property Trust Prices $300M 3.375% Senior Notes Due 2023
Liberty Property Trust (NYSE: 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.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.