American Financial Realty gets tenders for all 4.375% convertibles

By Laura Lutz

Des Moines, April 2 - American Financial Realty Trust said it received tenders for all $450 million of its 4.375% convertible senior notes due 2024.

The tender offer for the notes expired at 5 p.m. ET on Tuesday. It began on March 3 and was originally scheduled to expire on March 28.

The company offered to pay par plus accrued interest for the notes.

American Financial was acquired by Gramercy Capital Corp. on Tuesday. The company plans to pay for the tender with funds to be received from Gramercy and from proceeds of financing activities undertaken by Gramercy and its affiliates in connection with the merger.

Global Bondholder Services (866 540-1500) was the information agent.

Based in Jenkintown, Pa., American Financial is a real estate investment trust focused on properties for financial institutions.

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