Select Income to redeem $350 million of 2.85% senior notes due 2018

By Sarah Lizee

Olympia, Wash., Nov. 28 – Select Income REIT intends to redeem its $350 million of 2.85% senior notes due 2018, according to a press release.

The notes will be redeemed at par plus accrued interest up to but excluding the redemption date.

The redemption price is expected to be paid on or about Jan. 2.

The company said it currently expects to fund the redemption by using cash on hand and borrowings under its revolving credit facility.

Select Income is a real estate investment trust that owns properties primarily net leased to single tenants. The company is based in Newton, Mass.

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