RAIT buys $67.94 million 4% convertibles on put exercise, calls rest

New York, Oct. 3 – RAIT Financial Trust said that holders of $67,943,000 of its 4% convertible senior notes due 2033 exercised the put option and added that it will redeem the remaining $279,000 of the convertibles.

The notes put back to the company were purchased on Oct. 1 at par plus accrued interest, according to an 8-K filing with the Securities and Exchange Commission.

RAIT will redeem the rest of the convertibles on Nov. 16.

RAIT is a Philadelphia-based real estate investment trust.

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