Cabot Industrial Properties, L.P. Announces Total Consideration for Tender Offers and Consent Solicitations for Outstanding Debt Securities.Business Editors/Real Estate Writers CHICAGO--(BUSINESS WIRE)--Feb. 12, 2003 Cabot Industrial Properties, L.P. and its sole General Partner, Cabot Industrial Trust, today announced the total consideration Cabot L.P. will pay to holders that tender its 7.125% Redeemable Notes Due 2004 (NYSE NYSE See: New York Stock Exchange :CTRP CTRP Workers Confederation of the Republic of Panama CTRP Central de Trabajadores de la Revolución Peruana (Spanish: Federation of Workers of the Peruvian Revolution) CTRP Cooperative Threat Reduction Program 04), 8.200% Series A Medium Term Notes Due 2005 and 8.500% Series A Medium Term Notes Due 2010 pursuant to its tender offers for all of the outstanding notes of each series. In accordance with the terms and conditions of its Offer to Purchase and Consent Solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with Statement dated January 15, 2003 and the related Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. , the total consideration (excluding accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. ) offered will be: -- $1,058.90 for each $1,000 principal amount of 7.125% Notes validly tendered and not withdrawn -- $1,123.00 for each $1,000 principal amount of 8.200% Notes validly tendered and not withdrawn -- $1,207.83 and for each $1,000 principal amount of 8.500% Notes validly tendered and not withdrawn. The total consideration to be paid for each series was determined by reference to a fixed spread over the yield to maturity of the applicable reference U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. security specified in the Offer to Purchase, at 3:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on February 11, 2003, the second business day immediately preceding the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of the offers. The total consideration includes a $20 consent payment that will be paid for each $1,000 principal amount of Notes tendered on or prior to January 29, 2003, the consent payment deadline, and not withdrawn. No consent payment will be paid in respect of Notes tendered after the consent payment deadline. Cabot L.P. has been advised by Alpine Fiduciary Services, Inc., the Depositary for the offers, that as of 5:00 p.m., New York City time, on February 11, 2003, notes representing 98.13% of the aggregate outstanding 7.125% Notes, 100% of the aggregate outstanding 8.200% Notes and 86.95% of the aggregate outstanding 8.500% Notes had been validly tendered and not withdrawn. The offers will expire at 5:00 p.m., New York City time, on February 13, 2003, unless extended or earlier terminated. Goldman, Sachs & Co. has acted as Dealer Manager for the offers. The Information Agent is Georgeson Shareholder Communications, Inc. This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The offers are made only pursuant to the Offer to Purchase. Persons with questions regarding the offers should contact the Information Agent at 212/440-9800 (for banks and brokerage firms) or 866/328-5439 (for all others) or the Dealer Manager at 877/686-5059. |
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