Colonial Realty accepts tenders for $148.2 million notes in oversubscribed offer for four issues

By Jennifer Chiou

New York, Sept. 1 - Colonial Properties Trust and its operating partnership, Colonial Realty LP, announced that Colonial Realty has accepted for purchase $148.2 million total of four series of notes at a cost of $133.5 million, excluding accrued interest.

The offer ended at midnight ET on Aug. 31. Settlement was slated for Tuesday.

Holders tendered $270 million of the notes in all.

Specifically, the company accepted tenders for:

• All $83,436,000 tenders for its $178,682,000 of 6.05% senior notes due 2016, paying $75,091,920;

• All $64,665,000 tenders for its $258,646,000 of 5½% senior notes due 2015, paying $58,360,162.50;

• $50,000 of the $95,853,000 of tenders for its $200,861,000 of 6¼% senior notes due 2014; and

• None of the $26.05 million of tenders for its $80 million of 6 7/8% senior notes due 2012.

Colonial Properties is a multifamily real estate investment trust based in Birmingham, Ala.

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