Equity Residential buys back $17.5 million in 3.85% convertibles due 2026 in first quarter

By Devika Patel

Knoxville, Tenn., May 7 - Equity Residential repurchased $17.5 million of its 3.85% convertible fixed-rate public notes due Aug. 15, 2026 in the first quarter, according to a 10-Q filed Thursday with the Securities and Exchange Commission.

The notes were bought at a discount to par of approximately 11.6%, and the company recognized a gain of $2 million in connection with these repurchases.

Equity Residential is a real estate investment trust based in Chicago.

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