SAN DIEGO, Jan. 11 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced that its operating partnership subsidiary, BioMed Realty, L.P., has completed its previously announced private placement of 3.75% Exchangeable Senior Notes due 2030 (the "Notes"). The company also announced that the initial purchasers fully exercised their option to purchase additional notes to cover over-allotments, resulting in a total sale of $180 million in aggregate principal amount of Notes.
The company estimates that the net proceeds from this offering will be approximately $174 million, after deducting initial purchasers' discounts and estimated offering expenses. The operating partnership intends to use the net proceeds from the private offering to repay a portion of the outstanding indebtedness under its unsecured line of credit and for other general corporate and working capital purposes.
The Notes were offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended. The Notes and the common stock of BioMed Realty Trust issuable upon exchange of the Notes have not been registered under the Securities Act or any state securities laws and have not been, and may not be, offered or sold in the United States absent registration or an applicable exemption from registration requirements. BioMed Realty Trust has agreed to file a registration statement regarding resales of the shares of common stock of BioMed Realty Trust issuable upon exchange of the Notes with the Securities and Exchange Commission within 180 days of the closing of this private placement. This release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such of
|SOURCE BioMed Realty Trust, Inc.|
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