Camden Property Trust (CPT) Prices 5.75 Million Share Offering at $59.60/Share
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Camden Property Trust (NYSE: CPT) today announced that it has priced a public offering of 5,750,000 common shares at a price to the public of $59.60 per share.
The offering is expected to close on January 18, 2012. Credit Suisse, Deutsche Bank Securities and UBS Investment Bank, the joint book-running managers for the offering, have been granted a 30-day option to purchase up to an additional 862,500 common shares. Camden intends to use the net proceeds to fund the acquisition of the 80% interest not currently owned by Camden in 12 related joint ventures and the repayment of the mortgage debt secured by properties owned by these joint ventures.
The offering is expected to close on January 18, 2012. Credit Suisse, Deutsche Bank Securities and UBS Investment Bank, the joint book-running managers for the offering, have been granted a 30-day option to purchase up to an additional 862,500 common shares. Camden intends to use the net proceeds to fund the acquisition of the 80% interest not currently owned by Camden in 12 related joint ventures and the repayment of the mortgage debt secured by properties owned by these joint ventures.
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