CommonWealth REIT (“CommonWealth”) (NYSE: CWH) today announced that, pursuant to its previously announced tender offer to purchase for cash up to $665,000,000 (the “Maximum Tender Amount”) aggregate principal amount of the Senior Notes (as defined below) (the “Offer”), a total of $670,295,000 principal amount of Senior Notes were validly tendered at or prior to the expiration date of midnight, New York City time, at the end of March 22, 2013 (such time and date, the “Expiration Date”), according to the information provided by Global Bondholder Services Corporation, the tender agent for the Offer.
The Offer was made upon the terms and subject to the conditions set forth in an offer to purchase and related letter of transmittal, dated February 25, 2013, as amended by a press release dated March 1, 2013 and a press release dated March 11, 2013 (together, the “Offer Documents”), to purchase up to the Maximum Tender Amount of the 5.75% Senior Notes due February 15, 2014, 6.40% Senior Notes due February 15, 2015, 5.75% Senior Notes due November 1, 2015 and 6.25% Senior Notes due August 15, 2016, all listed below (the “Senior Notes”).
|Issuer(1)||CUSIP Numbers||Title of Security||Principal Amount Outstanding (US$)||Principal Amount Tendered||Percentage Tendered of Principal Amount Outstanding|
|HRPT PropertiesTrust||40426WAQ4||5.75% Senior Notes dueFebruary 15, 2014||$244,655,000||$145,612,000||59.52%|
|HRPT PropertiesTrust||40426WAP6||6.40% Senior Notes dueFebruary 15, 2015||$186,000,000||$152,560,000||82.02%|
|HRPT PropertiesTrust||40426WAS0||5.75% Senior Notes dueNovember 1, 2015||$250,000,000||$111,227,000||44.49%|
|HRPT PropertiesTrust||40426WAR2||6.25% Senior Notes dueAugust 15, 2016||$400,000,000||$260,896,000||65.22%|
|(1)||At the time of the issuance of the Senior Notes, the issuer, CommonWealth REIT, was then known as HRPT Properties Trust.|
While the total amount of Senior Notes tendered exceeds the Maximum Tender Amount, the rules of the Securities and Exchange Commission allow CommonWealth to accept the amount tendered without amending and extending the Offer. Accordingly, CommonWealth has accepted for purchase all of the Senior Notes validly tendered at or prior to the Expiration Date which have not previously been purchased during the course of the Offer. CommonWealth expects to make payment for such Senior Notes in same-day funds on March 25, 2013 (the “Final Settlement Date”).
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV