Federal Realty Investment Trust priced a $100 million offering of 3.20% notes due 2029 at an effective yield of 2.744%.
The notes will have the same terms and be of the same series as those issued by the shopping center real estate investment trust on June 7.
The REIT said it will have an aggregate of $400 million of such series of notes outstanding upon completion of the offering, expected Aug. 21. It plans to use the net proceeds to decrease amounts outstanding under its revolver and for general corporate purposes.
BofA Securities Inc., Jefferies LLC and Wells Fargo Securities LLC are joint book-running managers for the offering, while Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Regions Securities LLC, Scotia Capital (USA) Inc., SunTrust Robinson Humphrey Inc., TD Securities (USA) LLC and U.S. Bancorp Investments Inc. are co-managers.
