This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

First Industrial Realty Trust Announces Early Results Of First Industrial, L.P. Tender Offer For Debt Securities

CHICAGO, April 12, 2012 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR) today announced the early results for the previously announced cash tender offer (the "Offer") by its operating partnership, First Industrial, L.P., for up to $100,000,000 aggregate principal amount (the "Tender Cap") of First Industrial, L.P.'s outstanding 7.75% Senior Notes due 2032, 7.60% Notes due 2028, 7.15% Notes due 2027 and 6.42% Senior Notes due 2014 (collectively, the "Notes") on the terms and subject to the conditions set forth in an Offer to Purchase (the "Offer to Purchase") dated March 29, 2012 and the related Letter of Transmittal (the "Letter of Transmittal").


According to information provided by Global Bondholder Services Corporation, the depository and information agent for the Offer, as of 5:00 p.m., New York City time, on April 11, 2012 (the "Early Tender Time"), $22,400,000 aggregate principal amount of the 7.75% Senior Notes due 2032, $55,515,000 aggregate principal amount of the 7.60% Notes due 2028, none of the 7.15% Notes due 2027, and $9,000,000 aggregate principal amount of the 6.42% Senior Notes due 2014 had been validly tendered and not validly withdrawn.  First Industrial, L.P. has accepted for purchase all of these Notes, and, accordingly, each holder will be paid the applicable Total Consideration (as described in the Offer to Purchase), plus all accrued and unpaid interest from the last interest payment date, on or about April 16, 2012.

The Offer is scheduled to expire on April 25, 2012 at 11:59 p.m., New York City time, unless extended or earlier terminated (the "Expiration Time").  Unless First Industrial, L.P. increases the Tender Cap prior to the Expiration Time, up to an additional $13,085,000 aggregate principal amount of the Notes will be eligible for purchase following the Expiration Time.  First Industrial, L.P. expects any additional purchases under the Offer to be settled on or about April 30, 2012. 

The withdrawal deadline was 5:00 p.m. New York City time on April 11, 2012 (the "Withdrawal Deadline).  Accordingly, holders may no longer withdraw any validly tendered Notes prior to the Expiration Time, subject to limited exceptions.  Any Notes that were validly withdrawn before the Withdrawal Deadline may be re-tendered at any time prior to the Expiration Time. The Offer is subject to certain customary conditions, but is not conditioned on the tender of a minimum principal amount of Notes.  First Industrial, L.P. may amend, extend, or terminate the Offer any time.

Copies of the Offer to Purchase and Letter of Transmittal may be obtained from the Information Agent for the Offer, Global Bondholder Services Corporation at 866-952-2200 (toll-free) or 212-430-3774.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs