Brixmor gets total tenders for $57.65 million of notes due 2026, 2028

By Jennifer Chiou

New York, Jan. 16 - Brixmor LLC, an indirect subsidiary of Brixmor Property Group Inc., announced the receipt of tenders for an overall $57.65 million, or 55.11%, of the notes in its cash repurchase offer for several series.

The offers ended at midnight ET on Jan. 14. They began on Dec. 11.

The company received tenders for the following notes:

• $7,138,000 of its $10 million of 7.97% senior notes due Aug. 14, 2026;

• $15,362,000 of its $25 million of 7.65% senior notes due Nov. 2, 2026;

• All $10 million of 7.68% senior notes due Nov. 2, 2026;

• $4,467,000 of its $9,602,000 of 7.68% senior notes due Nov. 2, 2026;

• $14,356,000 of its $25 million of 6.9% senior notes due Feb. 15, 2028; and

• $6,327,000 of its $25 million of 6.9% senior notes due Feb. 15, 2028.

The purchase price will be par plus accrued interest to but excluding the settlement date.

The notes became putable on Jan. 15.

As announced, funding for the offer was to come from cash on hand and borrowings under existing credit facilities.

The note covenant restricting the company or any of its subsidiaries from selling or transferring any real property or the right to receive income or profits from the real property to any affiliate of the company that is not a subsidiary will expire on the payment date.

Global Bondholder Services Corp. (banks and brokers, 212 430-3774; all others 866 470-3900) was the information agent.

Brixmor is an internally managed real estate investment trust based in New York that owns and operates the wholly owned portfolio of grocery-anchored community and neighborhood shopping centers.

© 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.