UDR to repay unsecured, secured debt via new senior note offering

By Tali Rackner

Norfolk, Va., Aug. 16 – UDR, Inc. plans to repay a portion of the debt outstanding on its $1.1 billion unsecured credit facility maturing Jan. 31, 2020 and about $158 million of secured debt due in May 2017, including prepayment penalties and other fees, with the proceeds from a $300 million senior unsecured note offering, according to a press release.

Proceeds from the 10-year notes will also be used for general corporate purposes.

The real estate investment trust for apartment communities is based in Denver.

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