CapLease investors tender $13.5 million in 7.5% convertibles due 2027

By Devika Patel

Knoxville, Tenn., May 11 - CapLease, Inc. said $13.5 million of its $49.94 million in outstanding 7.5% convertible senior notes due 2027 were tendered as part of the company's cash tender offer.

The offer ended at midnight ET on May 10. It began on April 13. The company said it will pay par plus interest to the purchase date for the notes on May 12.

CapLease is using cash on hand to finance the tender.

Following this, there will be $36.4 million of the convertibles remaining outstanding.

CapLease is a New York-based real estate investment trust.

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