B.F. Saul REIT to start roadshow Tuesday for $250 million 10-year notes

By Paul A. Harris

St. Louis, Jan. 30 - B.F. Saul Real Estate Investment Trust plans to start a roadshow Tuesday for $250 million of senior secured notes due 2014 (B), a market source said.

The deal is expected to price early in the week of Feb. 9.

Friedman Billings Ramsey & Co. is the bookrunner for the Rule 144A offering. Lehman Brothers is co-manager.

The notes will be callable with a Treasuries plus 50 basis points make-whole call for the first five years and then be callable at a premium.

Proceeds will be used to redeem the company's existing senior secured notes.

The company is Bethesda, Md.-based real estate investment trust.

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