DDR to pay down revolving credit facilities via new note offering

By Tali David

Minneapolis, Nov. 19 - DDR Corp. plans to use the proceeds of its note offering to repay borrowings under its $750 million unsecured revolving credit facility due Feb. 28, 2016, according to a 424B5 filed with the Securities and Exchange Commission.

The company will also use proceeds to repay borrowings under its $65 million unsecured revolving credit facility due Feb. 28, 2016 and for general corporate purposes.

DDR is a self-administered and self-managed real estate investment trust based in Beachwood, Ohio.

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