(Read more on the debt and equitymarkets.)
MALVERN, PA-Through its limited partnership subsidiary, LibertyProperty Trust has sold $300 million in 10-year, 6.6%, unsecuredsenior notes. They are due Oct. 1, 2017 and priced to yield6.7%.
The net proceeds of approximately $295.7 million after expenseswill be used to repay outstanding debt on the locally based REIT's$600-million credit facility. According to an SEC filing, as ofAug. 31, the outstanding debt was approximately $390 million at aninterest rate of about 6%. The facility matures in January 2010 andhas a one-year extension option.
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