Washington REIT buys back $18.8 million in 3.875% convertible notes

By Devika Patel

Knoxville, Tenn., Oct. 22 - Washington Real Estate Investment Trust said it repurchased $12.2 million of its 3.875% convertible notes at an average discounted price of 95.6 during the quarter ended Sept. 30. The company paid about $11.7 million for the notes.

Subsequent to the end of the quarter, the Rockville, Md.-based REIT bought an additional $6.6 million of the convertibles at an average discounted price of 96.8 for approximately $6.4 million.

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