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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

CommonWealth REIT Announces Total Consideration For Debt Tender Offer And Settlement Date

CommonWealth REIT (“CommonWealth”) (NYSE: CWH) today announced the reference yield and the Total Consideration (as defined below) for each series of Senior Notes (as defined below) subject to the previously announced tender offer to purchase for cash up to $665,000,000 million aggregate amount (the “Maximum Tender Amount”) of the Senior Notes (the “Offer”). The Offer was previously amended to increase the Maximum Tender Amount from $650,000,000 to $665,000,000.

The Offer is being made upon the terms and subject to the conditions set forth in an offer to purchase and related letter of transmittal, dated February 25, 2013, as amended by a press release dated March 1, 2013 and a press release dated March 11, 2013 (together, the “Offer Documents”), to purchase up to the Maximum Tender Amount of the 5.75% Senior Notes due February 15, 2014, 6.40% Senior Notes due February 15, 2015, 5.75% Senior Notes due November 1, 2015 and 6.25% Senior Notes due August 15, 2016, all listed below (the “Senior Notes”).

The “Total Consideration” per $1,000 principal amount of Senior Notes validly tendered and accepted for purchase pursuant to the Offer was determined in the manner described in the Offer Documents by reference to a fixed spread specified for each series of Senior Notes over the yield based on the bid-side price of the Reference U.S. Treasury Security specified in the table below. Holders will also receive accrued and unpaid interest thereon up to, but excluding, the date of payment of the applicable consideration for such Senior Notes accepted for purchase.

Issuer(1)     CUSIP Numbers     Title of Security    

Reference U.S. Treasury Security

   

Reference Yield

   

Fixed Spread (basis points)

   

Total Consideration per $1,000 Principal Amount (US$)

   

Acceptance Priority Level(2)

HRPTProperties Trust

40426WAQ4

5.75% Senior Notesdue February 15, 2014

0.75% due

August 15,2013

0.133% + 50 $1,021.68 1
 

HRPTProperties Trust

40426WAP6

6.40% Senior Notesdue February 15, 2015

0.25% dueJanuary 31,2015

0.252% + 75 $1,076.18 2
 

HRPTProperties Trust

40426WAS0

5.75% Senior Notesdue November 1, 2015

0.25% dueJanuary 31,2015

0.252% + 125 $1,088.95 3
 

HRPTProperties Trust

40426WAR2

6.25% Senior Notesdue August 15, 2016

0.375% dueFebruary 15,2016

0.402% + 160 $1,120.08 4

(1) At the time of the issuance of the Senior Notes, the issuer, CommonWealth REIT, was then known as HRPT Properties Trust.

(2) If any Senior Notes are purchased in the Offer, Senior Notes tendered at or prior to the Early Tender Date will be accepted for purchase in priority to other Senior Notes tendered after the Early Tender Date even if such Senior Notes tendered after the Early Tender Date have a higher acceptance priority level than Senior Notes tendered prior to the Early Tender Date.

The Offer is subject to an aggregate purchase limit up to the Maximum Tender Amount. The Offer will expire at midnight, New York City time, at the end of March 22, 2013, unless extended (such date and time, as the same may be extended, the “Expiration Date”). Holders must validly have tendered and not validly withdrawn their Senior Notes at or prior to 5:00 p.m., New York City time, on March 8, 2013 (such date and time, as the same may be extended, the “Early Tender Date”), to be eligible to receive the Total Consideration, which includes an early tender premium of $20 per $1,000 principal amount of Senior Notes accepted for purchase (the “Early Tender Premium”).

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

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