Federal Realty Investment Trust priced a $300 million offering of 3.20% notes due June 15, 2029.
The notes will be issued at 99.838% of par value, with a 3.20% coupon. Interest on the notes is payable every June 15 and Dec. 15, starting Dec. 15.
The company will use net proceeds for the full repayment of the outstanding balance of its unsecured term loan and for general corporate purposes.
BofA Securities Inc., Jefferies LLC, U.S. Bancorp Investments Inc., Regions Securities LLC, SunTrust Robinson Humphrey Inc. and TD Securities (USA) LLC were the joint book-running managers for the offering, set to close on June 7.