Colonial Realty gets tenders for $269.99 million notes, ups offer size

New York, Aug. 17- Colonial Properties Trust said its operating partnership, Colonial Realty LP, received tenders for $269.99 million of its notes and has increased the maximum amount it will pay in the offer to $133.5 million from $125 million previously.

By the early tender deadline of 5 p.m. ET on Aug. 17, holders had tendered $83.42 million of Colonial Realty's $178,682,000 of 6.05% senior notes due 2016, $64,665,000 of its $258,646,000 of 5½% senior notes due 2015, $93,853,000 of its $200,861,000 of 6¼% senior notes due 2014 and $26.05 million of its $80 million of 6 7/8% senior notes due 2012. The notes are listed in order of acceptance priority.

Colonial announced the cash tender offer on Aug. 4.

For each $1,000 principal amount, the company said it will pay $900 for its 6.05% notes, $902.50 for its 5½% notes, $956.25 for its 6¼% notes and $990 for its 6 7/8% notes. The total payment includes a $30.00 premium for notes tendered by the early tender date.

The offer will expire at midnight ET on Aug. 31. The settlement date is expected to be Sept. 1. Tendered notes may not be withdrawn after the early tender date.

The company also will pay accrued interest.

Bank of America Merrill Lynch (888 292-0070 or collect 980 388-4603) is the dealer manager. Global Bondholder Services Corp. (866 470-4200 or 212 430-3774) is the information agent.

Colonial Properties is a multifamily real estate investment trust based in Birmingham, Ala.

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