Duke Realty (DUK) Partnership to Offer $300M of Senior Unsecured Debt
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Duke Realty Corporation (NYSE: DRE), says that its operating partnership, Duke Realty Limited Partnership, has priced an underwritten public offering of $300 million of 4.375% senior unsecured notes due June 15, 2022.
The notes were priced at 99.271% of their face amount to yield 4.466% to maturity. The Operating Partnership intends to use the net proceeds to repay outstanding indebtedness with near-term maturities, including all or a portion of outstanding borrowings under the Operating Partnership's existing revolving credit facility, and for other general corporate purposes. The offering is expected to close on June 11, 2012.
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The notes were priced at 99.271% of their face amount to yield 4.466% to maturity. The Operating Partnership intends to use the net proceeds to repay outstanding indebtedness with near-term maturities, including all or a portion of outstanding borrowings under the Operating Partnership's existing revolving credit facility, and for other general corporate purposes. The offering is expected to close on June 11, 2012.
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