By Andrea Heisinger
Omaha, Sept. 6 - Duke Realty LP priced $300 million of 6.5% senior notes due January 2018 Thursday to yield 205 basis points more than 10-year Treasuries.
The notes (Baa1/BBB+) have a price of 99.64 with a yield of 6.55%.
Bookrunners were J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc. and UBS Investment Bank.
Proceeds will be used to repay borrowings under an unsecured line of credit and for general corporate purposes.
Duke is an Indianapolis-based real estate trust.
| Issuer: | Duke Realty LP
|
| Issue: | Senior notes
|
| Amount: | $300 million
|
| Maturity: | Jan. 15, 2018
|
| Bookrunners: | J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., UBS Investment Bank
|
| Coupon: | 6.5%
|
| Price: | 99.64
|
| Yield: | 6.55%
|
| Spread: | 205 bps over 10-year Treasuries
|
| Call: | Non-callable
|
| Trade date: | Sept. 6
|
| Settlement date: | Sept. 11
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
