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UDR holders tender $89.81 million 6.5% notes due 2009
By Susanna Moon
Chicago, March 13 - UDR, Inc. investors tendered $89,811,000 principal amount, or 49.43%, of the company's $181.71 million of 6.5% notes due 2009.
The offer expired at 5 p.m. ET on March 12. Settlement is expected to occur Friday.
As previously noted, the company said it will pay par plus accrued interest.
The company intends to fund the offer using its $600 million revolving credit facility, which matures in July 2012.
Following the offer, there will be $91,899,000 of the notes outstanding.
Citi is the dealer manager, and Global Bondholder Services Corp. is the information agent (call collect 212 430-3774 or 866 470-3900).
UDR is a Denver-based real estate investment trust.
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