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Published on 12/7/2017 in the Prospect News Investment Grade Daily and Prospect News Liability Management Daily.

Federal Realty to redeem 5.9% notes due 2020 with new deal proceeds

New York, Dec. 7 – Federal Realty Investment Trust plans to redeem all $150 million of its outstanding 5.9% notes due 2020 using funds from an add-on offering of new 3.25% notes due 2027, according to a 424B5 filing with the Securities and Exchange Commission.

The redemption will be carried out using the make-whole call provision. A premium of approximately $12 million is anticipated.

Remaining proceeds will be used for general corporate purposes.

Federal Realty is a Rockville, Md., real estate investment trust that owns, manages and redevelops high quality retail and mixed-use properties located primarily in densely populated and affluent communities in metropolitan markets in the Northeast and Mid-Atlantic regions and California and South Florida.


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