RAIT Financial Trust, Philadelphia, has priced an offering of $350 million in aggregate principal amount of 6.875% convertible senior notes due 2027.The real estate investment trust said it plans to use the net proceeds of the offering to repurchase $74.3 million of its common shares at a price of $27.34 per share. RAIT Financial granted the initial purchaser an option to buy up to $75 million in additional notes to cover any overallotments. The REIT can be found on the Web at http://www.raitft.com.
RAIT Financial Prices Stock Offering
April 13, 2007, 2:00 p.m. EDT 1 Min Read
