Federal Realty Investment Trust Prices 5-year Debt

ROCKVILLE, Md. (AP) —Federal Realty Investment Trust on Monday said it priced its public offering of $150 million of 5-year senior unsecured notes.

The real estate investment trust, which focuses on retail and mixed-use properties, said the 5.95 percent notes are due Aug. 15, 2014 and were offered at 99.153 percent of par.

JPMorgan Securities and Wells Fargo Securities acted as joint book-running managers for the offering. Citigroup Global Markets Inc., PNC Capital Markets LLC, SunTrust Robinson Humphrey, Inc., Morgan Keegan & Co., Capital One Southcoast Inc. and U.S. Bancorp Investments Inc. acted as co-managers.

Subject to customary conditions, the offering is expected to close on or about Thursday.

Federal Realty intends to use the net proceeds from the offering to fund potential acquisitions and its redevelopment pipeline, reduce outstanding debt under its term loan, and/or for general corporate purposes.

In afternoon trading, Federal Realty shares fell $1.70, or 2.8 percent, to $59.74, as the broader market declined.