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Federal Realty prices $175M debt offering


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Federal Realty prices $175M debt offering

Federal Realty Investment Trust priced a $175 million public offering of its 3.25% senior unsecured notes due 2027 at 99.404% of the notes' principal amount, with a re-offer yield of 3.323%.

Interest on the notes will be payable every Jan. 15 and July 15, starting Jan. 15, 2018.

The company expects to close the offering Dec. 21 and plans to use the net proceeds to redeem all its outstanding 5.90% notes due 2020 and for general corporate purposes.

Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Merrill Lynch Pierce Fenner & Smith Inc. and Wells Fargo Securities LLC were the joint book-running managers, while Citigroup Global Markets Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC, Regions Securities LLC, SunTrust Robinson Humphrey Inc., TD Securities (USA) LLC, and U.S. Bancorp Investments Inc. were the co-managers for the offering.