Colony Capital reports $82.31 million tenders of 3.875% convertibles

By Taylor Fox

New York, Sept. 25 – Colony Capital Inc. announced the expiration and final results of its cash tender offer for any and all of its $112,811,000 outstanding 3.875% convertible senior notes due 2021, according to a news release.

As of the midnight ET Sept. 24 expiration time, $81,309,000 of the convertible notes, 72% of the amount of notes outstanding, were validly tendered and not withdrawn.

Colony accepted for purchase all notes that were validly tendered at par plus interest.

The company expects to pay $81.9 million for the purchase on the Sept. 25 settlement date.

After settlement, $31,502,000 of the note swill remain outstanding.

As previously reported, funding for the tender offer will come from cash on hand.

D.F. King & Co., Inc. is the information and tender agent for the offer (866 406-2287, 212 269-5550, ciny@dfking.com).

Barclays is the dealer manager (800 438-3242, 212 528-7581, fax: 646 834-0584).

The real estate investment trust is based in Los Angeles.

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