Liberty Property to pay down credit facility debt via note offering

By Tali David

Minneapolis, Dec. 5 - Liberty Property LP plans to use the proceeds from its new senior note issue to repay a portion of the indebtedness outstanding under its $500 million credit facility maturing on Nov. 1, 2015, according to a 424B2 filed with the Securities and Exchange Commission.

The company said it owes $230 million under the facility as of Tuesday.

Proceeds will also be used for general corporate purposes.

Liberty Property is a Malvern, Pa.-based industrial and office property leasing and management company.

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