DCT Industrial Trust® Announces $250 Million Senior Unsecured Notes Transaction
May 31 2016 - 04:10PM
Business Wire
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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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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