Liberty Property Trust Announces Completion of Previously Announced Public Offering And Intended Early Redemption of its 2020 Senior Notes
LIBERTY PROPERTY TRUST (LPT)
Last liberty property trust earnings: 10/27 06:25 pm
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US:NYSE Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=96097&p=irol-irhome
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Source: GlobeNewswire
WAYNE, Pa., Sept. 12, 2019 (GLOBE NEWSWIRE) -- On September 10, 2019, Liberty completed its previously announced sale of 8.0 million common shares, plus the exercise in full of the underwriters’ option totaling an additional 1.2 million shares, at a price of $50.50 per share. Estimated net proceeds from the offering totaled $447.9 million. Liberty expects to use the proceeds from this offering to: fund the early redemption on October 12, 2019 of its $350 million 4.75% senior notes due October 2020. Notice of the redemption has been provided to bondholders, and Liberty expects to incur a loss on early extinguishment of debt of approximately $9.3 million in connection with this redemption in the fourth quarter of 2019,repay outstanding balances on its revolving credit facilities, andfor working capital and for general corporate purposes This equity offering and the expected use of proceeds (including the estimated loss on early extinguishment of debt) were not included in the Compa
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