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Developers Diversified Realty plans to redeem portion of five series of notes, convertibles
By Jennifer Chiou
New York, March 16 - Developers Diversified Realty Corp. expects to use the proceeds from a planned notes issue to redeem a portion of several series of its notes and convertibles, according to a 424B5 with the Securities and Exchange Commission.
Affected notes series include the company's:
• $151.3 million of 5% senior notes due 2010;
• $177.4 million of 4 5/8% senior notes due 2010;
• $179.2 million of 5¼% senior notes due 2011;
• $120 million of 3.5% convertible senior notes due 2011; and
• $308.2 million of 3% convertible senior notes due 2012.
Cleveland-based Developers Diversified owns and manages roughly 690 retail operating and development properties.
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