Washington REIT gets tenders for $122.8 million 3.875% convertibles

By Angela McDaniels

Tacoma, Wash., Oct. 25 - Washington Real Estate Investment Trust received tenders for $122.8 million of its $125,495,000 of 3.875% convertible senior notes due 2026, according to a company news release.

A tender offer for the convertibles began Sept. 23 and ended at midnight ET on Oct. 22.

Holders will receive $1,027.50 for each $1,000 principal amount of convertibles plus accrued interest up to but excluding the settlement date, which was expected to be Oct. 25.

Citi (800 558-3745 or 212 723-6106) and Wells Fargo Securities (800 367-8652) were the dealer managers. Global Bondholder Services Corp. (866 540-1500 or 212 430-3774) was the information agent.

The issuer is a Rockville, Md.-based REIT that owns, operates and develops properties in the Washington and Baltimore region.

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