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CommonWealth REIT Prices Offering Of 30,000,000 Common Shares

Stocks in this article: CWH

CommonWealth REIT (NYSE: CWH) today announced that it priced a public offering of 30,000,000 common shares at a price to the public of $19.00 per share. The settlement of this offering is expected to occur on March 5, 2013. CWH expects to use the net proceeds from this offering, cash on hand or borrowings from its revolving credit facility to fund the purchase price of up to $450 million of CWH’s senior notes due between 2014 and 2016 in a tender offer announced February 25. If such tender offer is terminated for any reason, or if any net proceeds remain after the tender offer, CWH intends to use such proceeds to reduce amounts outstanding on its revolving credit facility and for general business purposes. The underwriters have been granted a 30-day option to purchase up to an additional 4,500,000 common shares.

The joint bookrunning managers for this offering are Citigroup, BofA Merrill Lynch, UBS Investment Bank and Morgan Stanley. The joint lead managers are Jefferies and RBC Capital Markets. The co-managers are BB&T Capital Markets, Janney Montgomery Scott, JMP Securities, MLV & Co. and Oppenheimer & Co.

This press release is neither an offer to sell nor a solicitation of an offer to buy CWH common shares, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The prospectus supplement relating to this offering and related prospectus are expected to be filed with the Securities and Exchange Commission (SEC) and copies can be obtained by contacting the offices of: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146; BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, NY 10038; email dg.prospectusrequests@baml.com; UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171, telephone: (888) 827-7275; or Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone (866) 718-1649, email: prospectus@morganstanley.com.

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