Forest City Enterprises, Inc. (FCEA,FCEB) said Tuesday that it has closed its offering of $125 million aggregate principal amount of 7.375 percent Senior Notes due 2034.
The company has granted the underwriters a 30-day option to purchase up to an additional $18.75 million principal amount of the Notes to cover overallotments.
Net proceeds from this offering was about $115.9 million, after deducting estimated offering expenses and the underwriters' discount.
Forest City intends to use the net proceeds to redeem a portion of its outstanding 7.625 percent Senior Notes due June 1, 2015.
Pending application of the net proceeds, the net proceeds will be held in an escrow account and invested in short-term, investment grade, interest-bearing securities.
The Notes may be redeemed by Forest City at any time at a redemption price equal to the principal amount plus accrued and unpaid interest. The Notes will be general senior unsecured obligations of Forest City Enterprises, Inc.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.