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BRE Properties begins tender offers for 5.75%, 4.875% senior notes
By Susanna Moon
Chicago, April 8 - BRE Properties, Inc. said it began a cash tender offer for its 5.75% senior notes due 2009 and its 4.875% senior notes due 2010.
The company said it will pay par plus accrued interest up to the payment date, which is expected to be April 16.
The tender offer will expire at 5 p.m. ET on April 15.
There is $150 million principal amount of 5.75% notes outstanding and $150 million principal amount of 4.875% notes outstanding.
Banc of America Securities LLC (888 292-0070 or 704 388-4603) and J.P. Morgan Securities Inc. (866 834-4666 or 212 834-3424) are dealer managers. Global Bondholder Services Corp. (866 540-1500 or collect 212 430-3774) is information agent and depositary.
Tendered notes may be withdrawn by the expiration date and may be re-tendered at any time prior to the expiration.
The offer is not conditioned on the tender of a minimum principal amount of notes.
BRE Properties is a San Francisco-based real estate investment trust that owns and manages apartment communities.
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