Forest City to repay some revolver debt with equity-linked notes proceeds

By Sara Rosenberg

New York, Oct. 3 - Forest City Enterprises Inc. plans on repaying some outstanding debt under its revolving credit facility using a portion of the proceeds from a $250 million putable equity-linked senior notes offering, according to a company news release.

Remaining proceeds from the offering will be used to repurchase up to $25 million of its class A common stock, to pay the net cost of the putable note hedge transaction and warrant transaction, and for general corporate purposes.

Forest City is a Cleveland-based owner, developer, manager and acquirer of commercial and residential real estate properties.

© 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.