First Industrial retires $4 million notes in first two months of 2013

By Tali David

Minneapolis, March 1 - First Industrial, LP said that from Jan. 1 to Feb. 28, it bought back $4 million of its 7.6% senior notes maturing in 2028 for a payment of $4.6 million, according to a 10-K filed with the Securities and Exchange Commission.

The company also retired $14.7 million of its notes at an aggregate purchase price of $16.3 million in the fourth quarter of 2012.

For the full year 2012, First Industrial repurchased $106.3 million of the notes for $110.6 million, according to the 10-K. As a reference, during the nine months ended Sept. 30, First Industrial repurchased $91.6 million of its unsecured notes at an aggregate purchase price of $94 million. Additionally, it paid off and retired its 2012 notes at maturity in the amount of $61.8 million.

First Industrial said it may, from time to time, repay additional amounts of its outstanding debt.

First Industrial is a Chicago-based owner and operator of industrial real estate and provider of supply-chain services.

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