Gramercy Capital extends tender offer for 8 1/8% series A preferreds

By Marisa Wong

Madison, Wis., Oct. 18 - Gramercy Capital Corp. has extended the offer period for its previously announced cash tender offer to purchase up to 4 million shares of the company's 8 1/8% series A cumulative redeemable preferred stock, according to a company news release.

The offer will now expire at 5 p.m. ET on Nov. 4, extended from Oct. 29.

As of 5 p.m. ET on Oct. 15, 1,790 preferreds had been tendered in the offer.

The company will pay $15.00 per preferred.

Citigroup Global Markets Inc. (800 558-3745) is the dealer manager for the tender offer, and D.F. King & Co., Inc. (800 859-8508) is the information agent and depositary.

Gramercy is a New York-based commercial real estate finance and property investment company.

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