Associated Estates Realty (AEC) Commences 6.5M Common Stock Forward Offering
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Associated Estates Realty Corporation (NYSE: AEC) announced the commencement of a public offering of approximately 6,500,000 of its common shares on a forward basis. Associated Estates also expects to grant the underwriters a 30-day option to purchase up to an additional 975,000 of its common shares.
Citigroup, BofA Merrill Lynch and Wells Fargo are serving as joint book-running managers for the offering.
Associated Estates expects to use the net proceeds received from the forward equity sale to repay debt that is scheduled to mature on October 1, 2013 and for general corporate purposes.
Citigroup, BofA Merrill Lynch and Wells Fargo are serving as joint book-running managers for the offering.
Associated Estates expects to use the net proceeds received from the forward equity sale to repay debt that is scheduled to mature on October 1, 2013 and for general corporate purposes.
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