trending Market Intelligence /marketintelligence/en/news-insights/trending/YWekVudUnvzgBh8_nTi0lQ2 content esgSubNav
In This List

Liberty Property Trust prices common stock offering

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Liberty Property Trust prices common stock offering

Liberty Property Trust priced a public offering of 8.0 million of its common shares at $50.50 apiece, expecting to raise gross proceeds of $404 million.

The industrial real estate investment trust also granted the underwriters an option to purchase up to 1.2 million additional common shares at the same price.

Net proceeds of the offering, expected to close Sept. 10, will be used for the early redemption of the $350 million 4.75% senior notes due Oct. 1, 2020, of the company's operating partnership. Any remaining net proceeds will go towards working capital and general corporate purposes, including repayment of borrowings under Liberty's credit facility.

Goldman Sachs & Co. LLC and Citigroup are the joint book-running managers of the offering.