Washington Real Estate Investment Trust, Rockville, Md., has priced $100 million of 20-year convertible senior unsecured notes.The notes will be convertible at the holder's option at an initial rate of 20.09 common shares per $1,000 principal amount of notes, or $49.78 per share. The REIT said the proceeds will be used to repay borrowings under its lines of credit. Credit Suisse Securities, the sole underwriter of the offering, has been granted an option to buy up to $10 million worth of additional notes to cover any overallotments. The REIT can be found online at http://www.writ.com.
REIT Prices Note Offering
September 07, 2006, 2:00 p.m. EDT 1 Min Read
