Forest City Enterprises to repay $450 million facility recourse debt with note offering proceeds

By Caroline Salls

Pittsburgh, Jan. 20 - Forest City Enterprises Inc. said it expects to repay recourse debt outstanding under its $450 million credit facility using net proceeds from its offering of $150 million senior notes.

Proceeds from the note offering will also be used for general corporate purposes and working capital purposes.

Forest City is a Cleveland-based real estate company.

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