UDR Inc. (UDR) announced that it has priced a $150 million offering of 5.25% senior unsecured notes under its existing shelf registration statement. Interest is payable semiannually on January 15 and July 15, with the first interest payment due July 15, 2010. The notes will mature on January 15, 2015. The notes were priced at 99.46% of the principal amount plus accrued interest from January 15, 2010 to yield 5.375% to maturity.
The notes are a re-opening of the series of 5.25% senior notes due January 15, 2015, originally issued on November 1, 2004. These additional notes will constitute a single series of notes together with those previously issued.
The settlement of the offering is expected to occur on February 4.
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