CommonWealth REIT Launches Public Offering of Unsecured Senior Notes
NEWTON, Mass.--(BUSINESS WIRE)--
CommonWealth REIT (NYSE: CWH) today announced that it has launched an
underwritten public offering of unsecured senior notes. CWH expects to
use the net proceeds from this offering to redeem some or all of its
outstanding 7 1/8% Series C Cumulative Redeemable
Preferred Shares, repay amounts outstanding under its revolving credit
facility, and for general business purposes, including funding possible
future acquisitions of properties.
The joint book-running managers for this offering are Citigroup Global
Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan
Stanley & Co. LLC, UBS Securities LLC, and Wells Fargo Securities, LLC.
The joint lead managers for this offering are Jefferies & Company, Inc.
and RBC Capital Markets, LLC.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which the offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of that state or jurisdiction. Copies of the
preliminary prospectus supplement and the accompanying prospectus may be
obtained by calling Citigroup Global Markets Inc. toll-free at (800)
831-9146, Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free
at (800) 294-1322, Morgan Stanley & Co. LLC toll-free at (866) 718-1649,
UBS Securities LLC toll-free at (877) 827-6444, extension 561-3884 or
Wells Fargo Securities, LLC toll-free at (800) 326-5897.
WARNING REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE
MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON
CWH'S PRESENT EXPECTATIONS, BUT THESE STATEMENTS AND THE IMPLICATIONS OF
THESE STATEMENTS MAY NOT OCCUR. FOR EXAMPLE,
ALTHOUGH THIS PRESS RELEASE REFERS TO AN OFFERING OF UNSECURED SENIOR
NOTES, THIS OFFERING MAY BE WITHDRAWN.
THIS PRESS RELEASE STATES THAT CWH EXPECTS TO USE A PART OF THE NET
PROCEEDS FROM THIS OFFERING TO REDEEM SOME OR ALL OF ITS OUTSTANDING 7 1/8%
SERIES C CUMULATIVE REDEEMABLE PREFERRED SHARES. HOWEVER, IF THIS
OFFERING IS WITHDRAWN CWH MAY NOT REDEEM ANY OF ITS OUTSTANDING 7 1/8%
SERIES C CUMULATIVE REDEEMABLE PREFERRED SHARES.
FOR THESE REASONS, AMONG OTHERS, INVESTORS SHOULD NOT PLACE UNDUE
RELIANCE UPON FORWARD LOOKING STATEMENTS.
A Maryland Real Estate Trust with transferable shares of beneficial
interest listed on the New York Stock Exchange. No
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
CommonWealth REIT Timothy A. Bonang, 617-796-8222 Vice
President, Investor Relations or Carlynn Finn, 617-796-8222 Senior
Manager, Investor Relations