Developers Diversified Realty Corp., Cleveland, has priced the sale of $300 million of seven-year senior unsecured notes.The 4.625% notes, due Aug. 1, 2010, were priced at 99.843, the real estate investment trust said. Proceeds from the offering will be used to repay borrowings under the REIT's unsecured credit facility and to selectively prepay secured mortgage financing. Banc of America Securities and JP Morgan were the joint book-running managers for the offering. DDR, which specializes in owning and managing shopping centers, can be found on the Web at http://www.ddrc.com.
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