LOS ANGELES (AP) ¿ Real estate investment trust Kilroy Realty Corp. said Monday that its operating partnership will offer $150 million in debt.
The notes offered by Kilroy Realty L.P. will be due 2014. The interest and exchange rates and other terms will be determined in negotiations between the company, operating partnership and initial purchasers of the notes, Los Angeles-based Kilroy said.
Under certain circumstances, the notes may be exchanged for cash up to the principal amount and shares of Kilroy Realty stock.
Kilroy Realty L.P. expects to grant to initial purchasers a 13-day option to buy up to an additional $22.5 million in notes to cover overallotments, if any.