Federal Realty Investment Trust tenders for any and all 8.75% notes

By Jennifer Chiou

New York, May 26 - Federal Realty Investment Trust announced the start of a cash tender offer for any and all of its $163,855,000 of 8.75% notes due 2009.

The company said it will pay $1,020 per $1,000 principal amount, plus accrued interest to, but not including, the settlement date.

The tender ends at 5 p.m. ET on June 3.

The offer does not have a minimum tender condition.

Citi (800 558-3745) and Wachovia Securities (704 715-8341 or 866 309-6316) are the dealer managers. Global Bondholder Services Corp. is the information agent (212 430-3774 or 866 470-3900).

The company said it intends to use cash on hand as well as its revolving credit facility for the offer.

Based in Rockville, Md., Federal is an equity real estate investment trust.

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