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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Dct Industrial Trust (delisted) | NYSE:DCT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 66.28 | 0 | 01:00:00 |
DCT Industrial Trust® (NYSE: DCT), a leading industrial real estate company, today announced that it has agreed in principle to issue $250 million of senior unsecured notes. The senior unsecured notes will be issued in a private placement offering with an average term of 10 years and a weighted-average interest rate of 3.90 percent. The notes, which require semi-annual payments of interest only, consist of $80 million of notes maturing in 2024 with a fixed interest rate of 3.75 percent, $90 million of notes maturing in 2026 with a fixed interest rate of 3.92 percent and $80 million of notes maturing in 2028 with a fixed interest rate of 4.02 percent. The transaction is expected to close in August 2016, with proceeds expected to be used to repay borrowings under our senior unsecured revolving line of credit, other senior unsecured notes and for general corporate purposes.
The notes have not been, and will not be, registered under the Securities Act of 1933, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act of 1933 and applicable state laws. This release shall not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
The Company makes statements in this document that are considered “forward-looking statements” under federal securities laws. Actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond its control including, without limitation, the risk that the investors may, for any reason, decide not to enter into final documentation for the transaction and not to participate on the terms described above. The Company assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20160531006270/en/
DCT Industrial TrustMedia and Investor Contact:Melissa Sachs, 303-597-2400VP, Corporate Communications & Investor Relationsinvestorrelations@dctindustrial.com
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