Forest City Enterprises calls $225 million of 7 3/8% notes due 2034

By Tali David

Minneapolis, Sept. 11 - Forest City Enterprises, Inc. intends to redeem all $225 million of its 7 3/8% senior notes due 2034, according to a press release.

The notes will be redeemed at par plus accrued interest on Oct. 14.

Funding for the redemption comes primarily from liquidity generated by the company's previously announced joint ventures with QIC for a portfolio of eight of Forest City's regional malls, of which seven of closed on Sept. 10. The eighth joint venture is expected to close in the near future.

The Bank of New York Mellon Trust Co., NA is the trustee.

Forest City is a Cleveland-based real estate company.

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