Winthrop Realty Trust Prices $75 Mln Of Senior Notes

Winthrop Realty Trust Q4 12 Earnings Conference Call At 12:00 PM ET

Trade FUR now with

8/8/2012 1:43 PM ET

Winthrop Realty Trust (FUR: Quote) said Wednesday that it has priced $75.0 million principal amount of 7.75% Senior Notes due 2022 at an issue price of 100% of par value.

The offering is expected to close on August 15.

Winthrop estimates that the net proceeds from the offering, after deducting the underwriting discounts and commissions and estimated offering expenses payable by Winthrop, will be about $72.25 million, or about $83.16 million if the underwriters' overallotment option is exercised in full.

In exchange for a promissory note which will have the same principal amount, interest payment terms and maturity date as the Notes, Winthrop will loan the net proceeds of the offering to its operating partnership.

The operating partnership will use the net proceeds to fund future acquisitions and/or for general working capital purposes, including funding capital expenditures, tenant improvements and leasing commissions.

Click here to receive FREE breaking news email alerts for WINTHROP REALTY TRUST and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

41 Articles Next>>

Editors Pick

Upbeat Economic Data Contributes To Rally On Wall Street - U.S. Commentary

Stocks moved sharply higher over the course of the trading day on Friday, more than offsetting the weakness seen on Thursday. In a reversal from the previous session, the markets benefited from some upbeat U.S. economic data as well as comments from a Federal Reserve official. The major averages saw further upside going into the close, with the Dow and the S&P 500 reaching new record highs.

PETA: IRS Targeting Neither New Nor Limited To Conservative Causes

As the IRS targeting scandal continues to make headlines, animal-protection charity People for the Ethical Treatment of Animals, or PETA, claims that conservative groups are not the only ones that have faced increased scrutiny from the agency.

Polls Shows Below Average Interest In IRS, Benghazi Stories

While the IRS targeting scandal has taken center stage on Capitol Hill on Friday, the results of a new Gallup poll showed that the American public's interest in the story is comparatively low based on historical measures. The poll showed that 54 percent of Americans are following the news that the IRS targeted conservative groups for greater scrutiny "very" or "somewhat" closely.