Federal Realty to pay down revolver balance with new note offering

By Tali Rackner

Norfolk, Va., July 7 – Federal Realty Investment Trust plans to pay down the outstanding balance under its $800 million revolving credit facility with the proceeds from a new offering of senior notes due 2046, according to a 424B5 filing with the Securities and Exchange Commission.

As of Wednesday, there was $80 million outstanding under the revolver, which matures on April 20, 2020.

Net proceeds may also be invested in short-term income-producing investments.

The real estate investment trust is based in Rockville, Md.

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