Market Overview

BioMed Realty Trust Provides Notice of Redemption of 7.375% Series A Cumulative Redeemable Preferred Stock

BioMed Realty Trust (NYSE: BMR), a real estate investment trust (REIT) that delivers optimal real estate solutions for the life science industry, today announced that it delivered a notice of the Company's intention to redeem all 7,920,000 outstanding shares of its 7.375% Series A Cumulative Redeemable Preferred Stock (the "Series A preferred stock") (NYSE: BMRPrA; CUSIP No.: 09063H206) from the registered holders of the Series A preferred stock. Pursuant to the provisions of the Articles Supplementary classifying the Series A preferred stock, upon delivery of the notice, the Company will have taken all necessary action to redeem all outstanding shares of Series A preferred stock on March 15, 2013. The Series A preferred stock will be redeemed at a redemption price of $25.30217 per share (the sum of the $25.00 per share redemption price and a quarterly dividend of $0.460940 prorated through the redemption date). On the redemption date, the Series A preferred stock will cease to accrue dividends.

Stockholders who hold Series A preferred stock through the Depository Trust Company will be redeemed in accordance with the Depository Trust Company's procedures. On or before the redemption date, the funds necessary for the redemption of the Series A preferred stock will have been set aside by the Company in trust for the benefit of the holders thereof. Subject to applicable escheat laws, any moneys set aside by the Company and unclaimed at the end of two years from the redemption date will revert to the general funds of the Company, after which reversion the holders of Series A preferred stock called for redemption may look only to the general funds of the Company for payment of the redemption price.

Upon deposit by the Company of the redemption price in trust for the account of the holders of the Series A preferred stock and from and after the redemption date, the Series A preferred stock will no longer be deemed to be outstanding and all rights with respect to such stock will cease and terminate (including, but not limited to, the right to receive dividends from and after the redemption date) except only the right of the holders thereof to receive, out of the funds so deposited in trust, from and after such date, the amount payable upon the redemption thereof, without interest.

Questions relating to, and requests for additional copies of, the notice of redemption and the related materials should be directed to the Company's transfer agent, Computershare Trust Company, N.A., at 1-800-546-5141 (domestic) or 1-781-575-2765 (international).

Posted-In: News Financing

 

Related Articles (BMR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters