Federal Realty redeems $125 million of 5.65% notes due 2016 at 107.4

By Susanna Moon

Chicago, Dec. 16 – Federal Realty Investment Trust said it redeemed its $125 million of 5.65% senior notes due 2016.

The notes were redeemed for $134.5 million, including $200,000 of accrued interest, on Dec. 12.

The redemption price was about 107.4% of par.

Also in December, Federal Realty repaid its $61 million mortgage loan on East Bay Bridge due 2016. The notes and mortgage loan were repaid with proceeds from the $250 million 4.5% senior notes issued in November 2014.

The total prepayment premium, net of unamortized premiums and debt fees, incurred in the fourth quarter of 2014 is about $10.5 million.

The real estate investment trust for retail and mixed-use buildings is based in Rockville, Md.

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