Duke says $66.35 million of $108.87 million 6.95% notes tendered

By Devika Patel

Knoxville, Tenn., April 1 - Duke Realty Corp. announced that $66.35 million of its $108.87 million of 6.95% senior notes due 2011 was tendered as part of the company's cash tender offer for the notes. The company has accepted all of these tenders in the offer that began on March 24.

The tender expired at 5 p.m. ET on March 31.

Settlement was expected to occur on Thursday.

The offer will be funded by the proceeds of the company's offering of senior notes.

The holders will receive the tender offer consideration of $1,055.00 per $1,000 of notes plus interest to, but not including, the settlement date.

The company also offered to purchase all of its 5.625% senior notes due 2011 and up to $50 million of its 6.25% senior notes due 2013 for a maximum payout of $180 million. This offer will expire at 11:59 p.m. ET on April 20.

Duke is an industrial, office and retail properties company based in Indianapolis.

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