New Plan Excel Realty Trust, New York, has priced a public offering of $250 million of senior unsecured notes.The offering includes $125 million of 5.125% seven-year fixed-rate notes, priced at 99.919 to yield 5.139%, and $125 million of 5.25% 10-year fixed-rate notes, priced at 99.372 to yield 5.332%, New Plan reported. The net proceeds from the offering will be used to redeem all $250 million of the company's outstanding 5.875% senior unsecured notes, the real estate investment trust said. J.P. Morgan Securities Inc., UBS Securities LLC, and Wachovia Capital Markets LLC were the joint bookrunners for the offering. The shopping center REIT can be found on the Web at http://www.newplanexcel.com.
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