Convertibles Calendar: Federal Realty on deck

Jan. 8

FEDERAL REALTY OP LP

• $400 million five-year notes exchangeable for Federal Realty Investment Trust stock

• $60 million greenshoe

• Coupon of 3.25% to 3.75% and initial conversion premium of 20% to 25%

• Non-callable for three years and then subject to a 130% hurdle

• Rule 144A

• J.P. Morgan Securities LLC, BofA Securities Inc. and Wells Fargo Securities LLC

• Proceeds to cover the cost of the call spread, to repay debt and for general corporate purposes

• North Bethesda, Md.-based real estate investment trust focused on shopping centers

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