UDR Inc., a multifamily real estate investment trust based in Denver, has priced $300 million of unsecured debt at 98.988% of the principal amount to yield 4.419% through maturity.
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Interest is payable on June 1 and Dec. 1 each year until the 4.250% senior unsecured notes mature on June 1, 2018. The first payment is due on Dec. 1 this year.
Expected use for the net proceeds is for general corporate purposes. The offering should settle on May 23.
Citi and J.P. Morgan are joint bookrunning managers, while Credit Suisse and Deutsche Bank Securities are co-managers.
