Duke Realty selling $300 million 10-year senior notes on Wednesday

By Aleesia Forni

Virginia Beach, Nov. 12 – Duke Realty LP is pricing $300 million of 10-year senior notes in Wednesday’s market, according to a markets source and a 424B3 filing with the Securities and Exchange Commission.

Bookrunners are Barclays, Citigroup Global Markets Inc., RBC Capital Markets LLC, U.S Bancorp Investments Inc. and Regions Securities LLC.

Proceeds will be used to repay borrowings under the company’s revolving credit facility, to repay $250 million of its 7.375% senior notes due Feb. 15, 2015, to redeem all of the remaining outstanding shares of its 6.6% series L cumulative redeemable preferred shares and to fund a development pipeline.

The real estate investment trust is based in Indianapolis.

© 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.