American Financial Realty announces tender for 4.375% convertibles

By Laura Lutz

Des Moines, March 3 - American Financial Realty Trust launched a cash tender offer for all of its outstanding $450 million principal amount of 4.375% convertible senior notes due 2024.

The offer is scheduled to expire at midnight ET on March 28.

American Financial is offering to pay par plus accrued interest for the notes.

Settlement of the offer depends on completion of the company's merger with an indirect subsidiary of Gramercy Capital Corp. It is not subject to the tender of a minimum amount of notes or to a financing condition.

The company plans to pay for the tender with fund to be received from Gramercy and from proceeds of financing activities undertaken by Gramercy and its affiliates in connection with the merger.

Completion of the merger does not depend on settlement of the tender offer.

Global Bondholder Services (866 540-1500) is the information agent.

Based in Jenkintown, Pa., American Financial is a real estate investment trust focused on properties for financial institutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.