First Industrial buys back $136.3 million of notes, exchangeables

New York, Nov. 4 - First Industrial Realty Trust reported buying back a total of $136.3 million of senior unsecured debt in the third quarter and the fourth quarter to date.

The Chicago based company said that during the third quarter it bought back $123.7 million at an average price of 84% of par.

Included in that total are $44.1 million of 7.375% senior notes due March 2011, $1.0 million of 4.625% exchangeable notes due September 2011, $40.2 million of 6.875% senior notes due April 2012; and $38.4 million of senior notes with maturities beyond 2012.

In the fourth quarter through Nov. 4, First Industrial has bought back a further $12.6 million of senior unsecured debt.

Following the transactions, the company has less than $19 million of debt maturing and principal payments due through the end of 2010.

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