03-27-2014, 07:16 AM
Revised to 12M share offering with underwriter option to buy 1.8M additional shares.
Priced at $39.96. "The company expects to use the net proceeds from the offering to repay borrowings under its $1.5 billion acquisition credit facility, which were, and will be, used to fund real estate acquisitions." Sounds to me like the funds are accretive in the sense that a previous acquisition is simply being paid for. This will free up the credit line in order to take advantage of the next opportunity.
I'm not adding shares here, but am not bothered by this announcement and today's resulting price action.
http://finance.yahoo.com/news/realty-inc...00268.html
Priced at $39.96. "The company expects to use the net proceeds from the offering to repay borrowings under its $1.5 billion acquisition credit facility, which were, and will be, used to fund real estate acquisitions." Sounds to me like the funds are accretive in the sense that a previous acquisition is simply being paid for. This will free up the credit line in order to take advantage of the next opportunity.
I'm not adding shares here, but am not bothered by this announcement and today's resulting price action.
http://finance.yahoo.com/news/realty-inc...00268.html
Alex