BioMed Realty to repay portion of line of credit via stock offering

By Tali David

Minneapolis, Feb. 12 - BioMed Realty Trust, Inc. plans to use the proceeds of its common stock offering to repay a portion of the outstanding debt under its unsecured line of credit, according to a 424B5 filing with the Securities and Exchange Commission.

As of Dec. 31, the company had $118 million outstanding under the line of credit.

It will also use the proceeds to fund a portion of the redemption of its series A preferred stock and for other general corporate and working capital purposes.

BioMed Realty Trust is a San Diego-based real estate investment trust focused on providing real estate to the life science industry.

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