UDR plans to redeem all 4.625% notes due 2022 with new note proceeds

By Wendy Van Sickle

Columbus, Ohio, Oct. 2 – UDR, Inc. will redeem all $400 million of its outstanding 4.625% senior notes due Jan. 10, 2022, according to a press release.

The notes will be redeemed at a make-whole amount plus accrued interest.

The company said it will finance the redemption using proceeds from a new $400 million offering of senior notes in two parts, including a $100 million add-on to its 3.2% medium-term notes due Jan. 15, 2030 and $300 million of 3.1% green notes due Nov. 1, 2034.

UDR is a Denver-based real estate investment trust that owns and manages multi-family apartment buildings.

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