DDR intends to repay revolver with proceeds of new notes

By Tali David

Minneapolis, Nov. 21 - DDR Corp. plans to use the proceeds from a new note offering to repay debt under its $750 million unsecured revolving credit facility, according to a 424B5 filed with the Securities and Exchange Commission.

As of Sept. 30, total borrowings under the facility totaled $42.9 million with a weighted average interest rate of 2.19%.

Proceeds will also be used for general corporate purposes, which may include the repayment of secured and unsecured debt from time to time.

The real estate investment trust is based in Beachwood, Ohio.

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