First Industrial Unit Issues $250M in Notes

CHICAGO-Yields are 6.972% on a $200-million tranche of 10-year notes and 7.867% on a $50-million trance of 30-year notes. The money ultimately will retire 7.15% notes and preferred stock paying 8.75%.

By Mark Ruda | April 05, 2002 at 01:01 AM

Credit Suisse First Boston, J.P. Morgan Securities Inc., Banc of America Securities LLC, Banc One Capital Markets, Inc., Deutsche Bank Securities, Merrill Lynch & Co., Salomon Smith Barney, UBS Warburg LLC and Wachovia Securities are underwriting the senior unsecured notes.

The debt is being issued in two tranches -- $200 million in 6.875%, 10-year notes that were priced at 99.31% and $50 million in 7.75%, 30-year notes that were priced at 98.66%.

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