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Forest City adjusts conversion rates for 2018, 2020 senior notes

Diversified real estate investment trust Forest City Realty Trust Inc. adjusted the conversion rates for two series of notes following its declaration of dividends for the first and second quarters of 18 cents per share.

The conversion rate for the 4.25% convertible senior notes due 2018 was adjusted to 48.6489 shares from 47.8122 shares of common stock per $1,000 principal amount of the notes.

For the 3.625% convertible senior notes due 2020, the conversion rate was revised to 43.5570 shares from 42.8079 shares of common stock per $1,000 principal amount of the notes.

The adjustments are effective immediately.