Prices $300M of 3.25% exchangeable senior notes due 2032
Operating partnership granted initial purchasers an option to buy up to an additional $45M of notes; sale expected to close July 2nd. - - Notes mature April 15th, 2032 and initially exchange at 28.2466 common shares per $1,000 principal amount, equal to about $35.40/shr and a 22.5% premium to the June 29th closing price of $28.90. - - Net proceeds expected at $291.8M, or $335.7M if the option is exercised in full; proceeds to fund capped call transactions, repurchase about $30M of common shares and repay or redeem $300M of 4.00% senior unsecured notes due 2026.
Operating partnership granted initial purchasers an option to buy up to an additional $45M of notes; sale expected to close July 2nd. - - Notes mature April 15th, 2032 and initially exchange at 28.2466 common shares per $1,000 principal amount, equal to about $35.40/shr and a 22.5% premium to the June 29th closing price of $28.90. - - Net proceeds expected at $291.8M, or $335.7M if the option is exercised in full; proceeds to fund capped call transactions, repurchase about $30M of common shares and repay or redeem $300M of 4.00% senior unsecured notes due 2026.