Duke Realty might repay revolver borrowings using new note proceeds

By Sarah Lizee

Olympia, Wash., Dec. 5 – Duke Realty LP said it may repay borrowings under its revolving credit facility using a portion of the proceeds from a new offering of senior notes due 2027, according to a form 424B3 filed with the Securities and Exchange Commission.

Barclays Bank plc, Citibank, NA, Royal Bank of Canada, SunTrust Bank and U.S. Bank NA are documentation agents and lenders under the revolver.

Proceeds from the offering will also be used to fund development and for general corporate purposes.

Duke Realty LP is the operating partnership of Indianapolis-based Duke Realty Corp., which owns and operates industrial and health care properties.

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