Rouse calls $21 million 9¼% debentures

New York, Dec. 24 - The Rouse Co. said it will redeem about $21 million of its 9¼% junior subordinated debentures due 2025, which will result in the redemption of about $20 million of the 9¼% cumulative quarterly income preferred securities (Quips) issued by Rouse Capital.

The redemption will be on Jan. 30 at par.

Rouse, a Columbia, Md., real estate development and management company, previously announced on Sept. 29 that it was redeeming about $26 million of the 9¼% junior subordinated debentures. Rouse said that this partial redemption would result in the redemption on Nov. 3 of about $25 million of the 9¼% Quips.

Rouse had earlier said that its board of directors had authorized management to redeem at par up to all of the debentures and, thus, the Quips.

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