Federal Realty redeems, repays $500 million of notes due 2021, 2022

By Cady Vishniac

Detroit, Jan. 7 – Federal Realty Investment Trust has repaid at par $250 million of 2.55% senior notes due 2021 and redeemed $250 million of 3% senior notes due 2022, according to a company press release.

The 2022 notes were redeemed at 104.144 for $263.5 million, including $3.1 million of accrued interest.

The redemption and the repayment of the two note series were carried out with cash on hand.

The trust now has no bonds maturing until June 2023, $800 million of cash on its balance sheet and an undrawn $1 billion facility.

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

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