DDR to redeem $150 million of 7 3/8% class H preferreds

By Tali David

Minneapolis, April 2 - DDR Corp. called $150 million of its 7 3/8% class H cumulative redeemable preferred shares and the related depositary shares, each representing 1/20th of one preferred, according to a news release.

On May 6, DDR will redeem 300,000 of the preferreds, represented by 6 million depositary shares, at $502.2535 per preferred or $25.1127 per depositary share.

This is the sum of $500 per preferred plus accrued dividends of $2.2535 per preferred to the redemption date or $25 per depositary share plus accrued dividends of $0.1127 per depositary share.

The total redemption price is $150.68 million.

Computershare Shareowner Services is the redemption agent.

DDR is a self-administered and self-managed real estate investment trust based in Beachwood, Ohio.

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