Federal Realty to pay down revolver using stock offering proceeds

By Marisa Wong

Morgantown, W.Va., March 1 – Federal Realty Investment Trust intends to reduce amounts outstanding under its revolving credit facility using proceeds from an offering of common stock, according to a 424B5 filing with the Securities and Exchange Commission.

The company plans to sell 1 million common shares. Its stock closed at $148.06 (NYSE: FRT) on Monday.

Funds from the stock offering will also be used for general corporate purposes.

The real estate investment trust is based in Rockville, Md.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.