Duke Realty plans to repay $250 million of 7.375% notes due 2015

By Jennifer Chiou

New York, Nov. 12 – Duke Realty LP announced that it intends to use a portion of the net proceeds from its offering of $300 million of 3.75% 10-year senior notes to repay $250 million of its 7.375% senior notes due Feb. 15, 2015.

Remaining proceeds, together with asset sale proceeds, will also be used to repay borrowings under the company’s revolving credit facility and to redeem all of its remaining 6.6% series L cumulative redeemable preferred shares.

Duke Realty said it additionally plans to fund a development pipeline.

The real estate investment trust is based in Indianapolis.

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