Federal Realty Investment Trust has commenced a cash tender offer for any and all of its USD163,855,000 principal amount of outstanding 8.75% Notes due 2009 (CUSIP No. 313747AG2) (the “Securities”).
The Trust intends to pay for all of the Securities purchased pursuant to the tender offer by utilizing cash on hand and its revolving credit facility. The Offer to Purchase and the related letter of transmittal, set forth the terms of the tender offer.
Upon the terms and subject to the conditions of the tender offer, the Securities will be purchased at a purchase price of USD1,020 per USD1,000 in principal amount of such Securities that are validly tendered and accepted for purchase, plus accrued and unpaid interest to, but not including, the date on which the Securities are purchased. The tender offer will expire at 5:00 p.m., New York City time, on Wednesday, 3 June 2009, unless extended by the Company (the “Expiration Date”).
The tender offer is conditioned upon the satisfaction of certain customary conditions described in the Offer to Purchase. The tender offer is not conditioned upon the tender of any minimum principal amount of Securities. Subject to applicable law, the Trust may, at its sole discretion, waive any condition applicable to the tender offer and may extend the tender offer. Under certain conditions and as more fully described in the Offer to Purchase, the Trust may terminate the tender offer before the Expiration Date.
The Company has retained Citi and Wachovia Securities to serve as Dealer Managers and has retained Global Bondholder Services Corporation to serve as the information agent for the tender offer.
L.D.