PS Business Parks to redeem all 6% cumulative preferreds on Jan. 3

By Tali Rackner

Minneapolis, Nov. 30 – PS Business Parks Inc. called all 5.2 million depositary shares representing interests in its 6% cumulative preferred stock, series T, according to the company notice.

The preferreds will be redeemed at $25 per share plus accrued dividends from Jan. 1 through the redemption date of Jan. 3.

The total redemption price will be $130 million, excluding accrued dividends.

PS Business Parks is a Glendale, Calif.-based real estate investment trust.

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