Federal Realty Investment Trust Announces Cash Tender Offer for Any and All of Its 8.75% Notes Due 2009
Upon the terms and subject to the conditions of the tender offer, the
Securities will be purchased at a purchase price of
The tender offer is conditioned upon the satisfaction of certain customary conditions described in the Offer to Purchase. The tender offer is not conditioned upon the tender of any minimum principal amount of Securities. Subject to applicable law, the Trust may, at its sole discretion, waive any condition applicable to the tender offer and may extend the tender offer. Under certain conditions and as more fully described in the Offer to Purchase, the Trust may terminate the tender offer before the Expiration Date.
The Company has retained Citi and Wachovia Securities to serve as Dealer
Managers and has retained
Neither the Trust, the board of trustees of the Trust, the information agent nor either of the Dealer Managers makes any recommendation as to whether holders of the Securities should tender or refrain from tendering Securities. This press release is neither an offer to purchase nor a solicitation of an offer to sell the Securities or any other securities. The offer is made only by the Offer to Purchase and the related letter of transmittal.
About Federal Realty
Safe Harbor Language
Certain matters discussed within this press release may be deemed to be
forward-looking statements within the meaning of the federal securities laws.
Although Federal Realty believes the expectations reflected in the
forward-looking statements are based on reasonable assumptions, it can give no
assurance that its expectations will be attained. These factors include, but
are not limited to, the risk factors described in our Annual Report on Form
10-K filed on
-- risks that our tenants will not pay rent or that we may be unable to renew leases or re-let space at favorable rents as leases expire; -- risks that we may not be able to proceed with or obtain necessary approvals for any redevelopment or renovation project, and that completion of anticipated or ongoing property redevelopments or renovations may cost more, take more time to complete, or fail to perform as expected; -- risks that the number of properties we acquire for our own account, and therefore the amount of capital we invest in acquisitions, may be impacted by our real estate partnership; -- risks normally associated with the real estate industry, including risks that occupancy levels at our properties and the amount of rent that we receive from our properties may be lower than expected, that new acquisitions may fail to perform as expected, that competition for acquisitions could result in increased prices for acquisitions, that environmental issues may develop at our properties and result in unanticipated costs, and, because real estate is illiquid, that we may not be able to sell properties when appropriate; -- risks that our growth will be limited if we cannot obtain additional capital; -- risks of financing, such as our ability to consummate additional financings or obtain replacement financing on terms which are acceptable to us, our ability to close any pending financing activities, our ability to meet existing financial covenants and the limitations imposed on our operations by those covenants, and the possibility of increases in interest rates that would result in increased interest expense; and -- risks related to our status as a real estate investment trust, commonly referred to as a REIT, for federal income tax purposes, such as the existence of complex tax regulations relating to our status as a REIT, the effect of future changes in REIT requirements as a result of new legislation, and the adverse consequences of the failure to qualify as a REIT.
Given these uncertainties, readers are cautioned not to place undue
reliance on any forward-looking statements that we make, including those in
this press release. Except as may be required by law, we make no promise to
update any of the forward-looking statements as a result of new information,
future events or otherwise. You should carefully review the risks and risk
factors included in our Annual Report on Form 10-K filed
Investor and Media Inquiries
Gina Birdsall Janelle StevensonInvestor Relations Corporate Communications 301/998-8265 301/998-8185 firstname.lastname@example.org email@example.com
Federal Realty Investment Trust-0- 05/26/2009/CONTACT: Gina Birdsall, Investor Relations, +1-301-998-8265, firstname.lastname@example.org, or Janelle Stevenson, Corporate Communications, +1-301-998-8185, email@example.com, both of Federal Realty Investment Trust/ /Photo: http://www.newscom.com/cgi-bin/prnh/20050907/DCW070LOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, firstname.lastname@example.org/ /Web Site: http://www.federalrealty.com / (FRT) CO: Federal Realty Investment Trust; Citi; Wachovia Securities; Global Bondholder Services CorporationST: MarylandIN: FIN RLT RRL CRL REA SU: TNM PR -- PH22488 -- 6288 05/26/2009 16:30 EDThttp://www.prnewswire.com