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October 28, 2009
Forest City in the News
PR Newswire, Forest City Closes Offering of $200 Million Convertible Senior Notes
From the press release issued by the parent company of Atlantic Yards developer Forest City Ratner:
Forest City Enterprises, Inc. (NYSE: FCEA and FCEB) today announced the closing of its offering of $200 million aggregate principal amount of convertible senior notes due 2016 (the "Notes"). This amount includes the exercise in full of the initial purchasers' option to purchase $25 million in aggregate principal amount of additional Notes to cover overallotments. Forest City received net proceeds from the offering of approximately $177.3 million, after deducting the initial purchasers' discounts, estimated offering expenses and the cost of the convertible note hedge transactions discussed below.
Retail Traffic, Forest City Issues $200M Notes
Real estate company, Forest City Enterprises, has sold $200 million of convertible senior notes, PR Newswire reports. Forest City raised net proceeds of about $177.3 million, after deducting the initial purchasers’ discounts, estimated expenses and the cost of the convertible note hedge transactions.
The notes, due 2016, were sold to qualified institutional buyers. The company is planning to use the proceeds to cut outstanding debt on its revolving $750 million credit facility and for general corporate purposes.
TradingMarkets, Forest City Enterprises raises $200 million in private placement
Forest City Enterprises, Inc., a US-based real estate company, has completed a private placement of $200 million aggregate principal amount of convertible senior notes due 2016.
Trading Markets, Forest City Enterprises Down 9.6% Since SmarTrend's Sell Recommendation
SmarTrend, our proprietary pattern recognition system, called a Downtrend for Forest City Enterprises (NYSE:FCE.A) on October 20, 2009 at $11.36.
Since then, Forest City Enterprises has returned 9.6% as of today's recent price of $10.27.
Posted by lumi at October 28, 2009 3:11 AM