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Brandywine buys back $34.9 million notes, exchangeables, gets tenders for $40.3 million
By Devika Patel
Knoxville, Tenn., April 30 - Brandywine Realty Trust said it repurchased $34.9 million of its unsecured senior notes maturing in 2009, 2010 and 2026 in open-market transactions during the first quarter and completed a tender for $40.3 million of its notes due in November 2009.
The 2026 notes were the company's exchangeable notes, which have a put date in October 2011.
These repurchases generated aggregate gains of $6.6 million.
Brandywine Realty is a Radnor, Pa.-based real estate investment trust that owns, develops and manages a primarily class A, suburban and urban office portfolio.
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