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Boston Properties $750M offering priced


Published : Thu, 01 Feb 2007 17:30
By : Agencies
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BOSTON (AFX) - Real estate investment trust Boston Properties Inc. said Thursday a $750 million exchangeable senior note offering was priced with a 2.875 percent coupon.

The notes are due 2037.

An additional $112.5 million may be issued to cover over-allotments within 30 days.

Proceeds from the offering, which are expected to total $730.4 million, may be used to acquire assets, for development opportunities and to repay debt.

Shares of Boston Properties were down $2.05 at $124.04 in morning trading on the New York Stock Exchange.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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