Duke Realty Corp., Indianapolis, has announced the pricing of $575 million in aggregate principal amount of exchangeable senior notes due 2011.The notes, which bear a coupon of 3.75%, were offered through a subsidiary, Duke Realty LP, to qualified institutional buyers. The company said Duke Realty LP will use approximately $88.37 million of the net proceeds from the sale of the notes to fund the repurchase of shares of Duke's common stock and approximately $26.97 million to fund the capped call transaction relating to the notes. Duke can be found online at http://www.dukerealty.com.
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