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Wednesday, January 17 2007 @ 09:38 AM Central Standard Time
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In an announcement today, Washington Real Estate Investment Trust, or WRIT, is undertaking an underwritten public offering of $125 million total principal amount of convertible senior notes due 2026.
Under its shelf registration statement filed with the Securities and Exchange Commission, WRIT will allow underwriters to buy up to $18.75 more of aggregate principal amount of notes within a 30-day period of issuance of the notes to wrap-up over allotment. Being the senior unsecured obligations of WRIT, these notes are either convertible to cash or a combination of cash and WRIT’s common shares.
The net proceeds from the offering are intended to repay borrowings for WRIT’s credit lines and for corporate purposes.
The offering will be under the management of Credit Suisse Securities (USA) LLC. Details of the public offering will be available in the preliminary and final prospectus which will be submitted to the Securities and Exchange Commission. Copies of the prospectus will be made available at the Credit Suiise, Prospectus Department.
Ma. Roma C. Agsalud
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