Kilroy wraps oversubscribed tender offer for 3.25% exchangeable notes

By Jennifer Chiou

New York, June 28 - Kilroy Realty Corp. subsidiary Kilroy Realty, LP said it obtained tenders for all $298 million of its 3.25% exchangeable senior notes due 2012 in the completed offer for up to $150 million of the notes.

The tender offer ended at midnight ET on June 25. It began on May 17.

Kilroy said it paid par plus accrued interest up to the payment date, adding that it will cancel the acquired notes.

The company accepted the maximum amount of notes for a final proration factor of 50.3%.

The offer was not conditioned on the tender of a minimum amount of notes.

J.P. Morgan Securities Inc. (800 261-5767), Banc of America Securities LLC (888 292-0070 or collect 980 388-9217) and Barclays Capital Inc. (800 438-3242 or collect 212 528-758) were the dealer managers.

U.S. Bank NA was the depository. Global Bondholder Services Corp. (866 540-1500 or collect 212 430-3774) was the information agent.

Los Angeles-based Kilroy owns, operates and develops suburban office and industrial real estate in southern California.

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