By Andrea Heisinger
Omaha, April 28 - AMB Property LP priced an upsized $325 million of 6.3% five-year notes Monday to yield Treasuries plus 320 basis points, market sources said.
The size was increased from $250 million.
The notes (Baa1/BBB/BBB+) priced at 99.853 to yield 6.332%.
Bookrunners were Banc of America Securities LLC, J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc.
The real estate investment trust is based in San Francisco.
| Issuer: | AMB Property LP
|
| Issue: | Notes
|
| Amount: | $325 million, increased from $250 million
|
| Maturity: | June 1, 2013
|
| Bookrunners: | Banc of America Securities LLC, J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc.
|
| Coupon: | 6.3%
|
| Price: | 99.853
|
| Yield: | 6.332%
|
| Spread: | Treasuries plus 320 bps
|
| Trade date: | April 28
|
| Settlement date: | May 1
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
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