This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

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

Stocks in this article: FR

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").

(Logo:  http://photos.prnewswire.com/prnh/20040106/FRLOGO)

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and $9,000,000 aggregate principal amount of the 6.42% Senior Notes due 2014 had been validly tendered and not validly withdrawn.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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs