X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

AMB Property Corporation says it has sold $30 million of senior subordinated unsecured notes as part of a medium-term note program in which it will issue and guarantee up to $400 million of debt securities.

The $30 million of notes already issued mature in August 2007 and bear a coupon rate of 7.925%. The net proceeds will be used for general purposes and may include the repayment of indebtedness, including amounts outstanding under AMB’s unsecured credit facility, and the acquisition or development of additional properties.

The named agents of the program are lead agent Morgan Stanley Dean Witter, as well as Banc of America Securities LLC, Banc One Capital Markets, Inc., Chase Securities Inc., Merrill Lynch & Co., J.P. Morgan & Co. and Salomon Smith Barney.

AMB (NYSE:AMB) stock closed down 6 cents Thursday at $24.313. It was off another 6 cents in morning trading Friday.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.