BioMed Realty holders may put back 4.5% exchangeables due 2026

By Jennifer Chiou

New York, Aug. 31 - BioMed Realty Trust, Inc.'s operating partnership, BioMed Realty, LP, announced that holders of its $19.8 million of 4.5% exchangeable senior notes due 2026 have the right to put back their securities.

Participating holders may surrender their notes for a purchase price of par on the Oct. 1 repurchase date. The deadline is 5 p.m. ET on Sept. 29.

In addition, BioMed announced plans to redeem all remaining notes at par plus accrued interest.

In connection with the redemption, holders may also exchange their notes on or before 5 p.m. ET on Oct. 4 at an exchange price of $37.29 per share. The exchange rate is 26.8135 shares per $1,000 principal amount of notes.

Those looking to exchange their notes must do so between 5 p.m. ET on Oct. 1 to 5 p.m. ET on Oct. 4.

According to a news release, holders of record as of Sept. 15 will not be entitled to the regularly scheduled Oct. 1 interest payment if they surrender their notes for exchange prior to 5 p.m. ET on Oct. 1.

Any notes outstanding after 5 p.m. ET on Oct. 4 will be redeemed.

U.S. Bank NA is the trustee, paying agent and exchange agent (800 934-6802).

BioMed Realty is a San Diego-based real estate investment trust focused on providing real estate to the life science industry. Company shares (NYSE: BMR) closed at $18.24 apiece on Tuesday.

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