Cedar Shopping Centers to pay down revolver borrowings with preferred stock proceeds

By Sara Rosenberg

New York, Aug. 17 - Cedar Shopping Centers Inc. is planning to repay amounts outstanding under its secured revolving stabilized property credit facility using proceeds from the sale of 8 7/8% series A cumulative redeemable preferred stock, according to a 424B5 filed with the Securities and Exchange Commission on Tuesday.

Cedar Shopping Centers is a Port Washington, N.Y.-based real estate investment trust that focuses primarily on the ownership, operation, development and redevelopment of supermarket-anchored shopping centers.

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