Washington Real Estate Investment Trust (WRIT) (NYSE: WRE) announced today that it has priced an underwritten public offering of $300 million aggregate principal amount of senior unsecured notes due October 15, 2022. The notes have an annual coupon rate of 3.95% and were priced at 99.438% of the principal amount. The sale of the notes is expected to close on September 17, 2012, subject to customary closing conditions.
WRIT intends to utilize the net proceeds from the offering to repay borrowings under WRIT’s lines of credit and the remainder for general corporate purposes.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Wells Fargo Securities, LLC and Credit Suisse Securities (USA) LLC are the Joint Book-Running Managers for the offering. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated, and SunTrust Robinson Humphrey, Inc. are Senior Co-Managers.
A registration statement relating to these securities became effective upon filing with the Securities and Exchange Commission. The offering may be made only by means of a prospectus and related prospectus supplement. A final prospectus supplement related to the public offering will be filed with the Securities and Exchange Commission. When available, copies of the final prospectus supplement and accompanying prospectus may be obtained from J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, attention: Investment Grade Syndicate Desk, or by telephone at 212-834-4355; Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Attn: Prospectus Department, telephone: (877) 858-5407 or by e-mail at BATProspectusdept@citi.com; Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd. NC0675, Charlotte, North Carolina 28262, attn: Capital Markets Client Support, telephone: 1-800-326-5897 or email: cmClientsupport@wellsfargo.com; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York, 10010, or by telephone at +1 (800) 221-1037, or by email at email@example.com.This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. The offering may be made only by means of a prospectus and related prospectus supplement.