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Duke Realty repurchased $260.7 million bonds, $55.7 million series O preferreds in second quarter
By Jennifer Chiou
New York, July 28 - Duke Realty Corp. announced in its second-quarter report that it bought back a total of $260.7 million of its unsecured bonds due 2011 and 2013 as well as $55.7 million of its 8.375% series O preferred stock.
The bonds were repurchased via a tender offer and purchases in the open market while the preferreds were acquired through open-market purchases.
Thus far in 2010, Duke Realty has repurchased $275.7 million of unsecured bonds.
As previously reported in April, the company retired $100 million of its 6.25% unsecured bonds with available cash, repurchased $15 million of its 2011 exchangeable notes in the open market and repurchased $212.2 million of unsecured bonds through a tender offer.
The tender comprised $66.4 million of 6.95% March 2011 senior notes, which were repurchased on April 1; $95.8 million of 5.625% August 2011 senior notes, which were repurchased on April 20; and $50 million of 6.25% May 2013 senior notes, which were also repurchased on April 20.
Duke Realty is an industrial, office and retail properties company based in Indianapolis.
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