On its 8 1/8% repurchase offering, which closed Oct. 5, Postbought back $88 million in notes for $1,039.81 per $1,000. Postexpects to pay investors by borrowing from its revolving creditfacility, the company says in a prepared statement.
Post plans to record a charge of about $4 million in this year'sfourth quarter on the early retirement of this debt. Post willreplenish its credit facility from proceeds on the 5 1/8% notessale.
The company also says it will record a third-quarter charge ofabout two cents per share on preliminary hurricane damage estimatesat its five Central Florida properties. Post owns four propertiesin Tampa and one in Orlando with a total 2,468 units. Thepreliminary damage amount wasn't disclosed.
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