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

DDR Corp. Prices $150 Million Reopening Of Its 2022 Senior Unsecured Notes

BEACHWOOD, Ohio, Nov. 19, 2012 /PRNewswire/ -- DDR Corp. (NYSE: DDR) today announced the pricing of $150 million of senior unsecured notes in an underwritten public offering. The offering consists of $150 million of 4.625% notes due 2022 at a price of 109.223% representing a yield to maturity of 3.465%. The notes will have the same terms and be of the same series as the notes that DDR issued on June 22, 2012 and, upon consummation of this offering, DDR will have a total of $450 million of such notes outstanding. Interest on the notes will be paid semi-annually on January 15 and July 15 commencing on January 15, 2013. The offering is expected to close on or about November 27, 2012, subject to customary closing conditions.

(Logo: )

The net proceeds to DDR, after subtracting the underwriting discount and estimated offering expenses, are expected to be approximately $162.2 million. DDR intends to use the net proceeds for general corporate purposes, including the potential repayment of debt.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., RBS Securities Inc., UBS Securities LLC and Wells Fargo Securities, LLC are serving as joint book-running managers; Capital One Southcoast, Inc., PNC Capital Markets LLC, RBC Capital Markets, LLC and U.S. Bancorp Investments, Inc. are serving as senior co-managers; and Evercore Group L.L.C., FTN Financial Securities Corp, Moelis & Company LLC  and Scotia Capital ( USA) Inc. are serving as co-managers for the offering.

The offering may be made only by means of a prospectus supplement and the accompanying prospectus. A copy of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained, when available, by calling or e-mailing Citigroup Global Markets Inc. toll free at 1-800-831-9146, Deutsche Bank Securities Inc. toll-free at 1-800-503-4611 or, RBS Securities Inc. toll-free at 1-866-884-2071, UBS Securities LLC toll-free at 1-877-827-6444, ext. 561 3884, or Wells Fargo Securities, LLC toll-free at 1-800-326-5897.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the notes or any other securities, nor will there be any sale of the notes or any other securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective.

1 of 3

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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community


Chart of I:DJI
DOW 16,374.76 +23.38 0.14%
S&P 500 1,951.13 +2.27 0.12%
NASDAQ 4,733.4970 -16.4820 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs