MALVERN, Pa., Dec. 5, 2012 /PRNewswire/ -- Liberty
Property Trust (NYSE: LRY), announced today that its limited
partnership subsidiary, Liberty Property Limited Partnership, has
priced a $300 million offering of
3.375% senior unsecured notes under its existing shelf
registration. The notes are due June 15,
2023 and were priced to yield 3.386%. The offering is
expected to close on December 10,
2012, subject to customary closing conditions. The proceeds
will be used to repay indebtedness outstanding under the Company's
unsecured credit facility and for general corporate purposes.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P
Morgan Securities LLC, and Wells Fargo Securities, LLC served as
joint book-running managers and Barclays Capital Inc., BB&T
Capital Markets, Capital One Southcoast Inc, Citigroup Global
Markets Inc., Mitsubishi UFJ Securities (USA), Inc., Morgan Stanley & Co. LLC, PNC
Capital Markets LLC, RBS Securities Inc., SunTrust Robinson
Humphrey, Inc., The Huntingdon Investment Company, UBS Securities
LLC, and US Bancorp Investments, Inc. served as co-managers.
The offering may be made only by means of a prospectus
supplement and accompanying prospectus. A copy of the prospectus
supplement and prospectus relating to these securities may be
obtained, when available, by contacting Merrill Lynch, Pierce,
Fenner & Smith Incorporated, 222 Broadway, 7th Floor,
New York, NY 10038, Attn:
Prospectus Department, email: dg.prospectus_requests@baml.com; J.P.
Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention: High
Grade Syndicate Desk, 3rd floor, telephone collect at (212)
834-4533; or Wells Fargo Securities, LLC, 1525 West W.T. Harris
Blvd., NC0675, Charlotte, NC
28262, Attn: Capital Markets Client Support, telephone: (800)
326-5897, email: cmclientsupport@wellsfargo.com.
This press release is for informational purposes only and shall
not constitute an offer to sell or the solicitation of an offer to
buy any securities nor shall there be any sale of these securities
in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities, blue sky or other laws of any
such state or other jurisdiction.
Liberty Property Trust is a leader in commercial real estate,
serving customers in the United
States and United Kingdom,
through the development, acquisition, ownership and management of
superior office and industrial properties. Liberty's 78 million
square foot portfolio includes 650 properties providing office,
distribution and light manufacturing facilities to 1,800
tenants.
The statements contained in this press release may include
forward-looking statements within the meaning of the federal
securities law. Although Liberty believes that the
expectations reflected in such forward-looking statements are based
on reasonable assumptions, it can give no assurance that its
expectations will be achieved. As forward-looking statements,
these statements involve important risks, uncertainties and other
factors that could cause actual results to differ materially from
the expected results and, accordingly, such results may differ from
those expressed in any forward-looking statements made by, or on
behalf of the Company. The Company assumes no obligation to update
or supplement forward looking statements that become untrue because
of subsequent events. These risks, uncertainties and other factors
include, without limitation, uncertainties affecting real estate
businesses generally (such as entry into new leases, renewals of
leases and dependence on tenants' business operations), risks
relating to our ability to maintain and increase property occupancy
and rental rates, risks relating to the recent credit crisis and
economic disruption, risks relating to construction and development
activities, risks relating to acquisition and disposition
activities, risks relating to the integration of the operations of
entities that we have acquired or may acquire, risks relating to
joint venture relationships and any possible need to perform under
certain guarantees that we have issued or may issue in connection
with such relationships, possible environmental liabilities, risks
relating to leverage and debt service (including availability of
financing terms acceptable to the Company and sensitivity of the
Company's operations and financing arrangements to fluctuations in
interest rates), dependence on the primary markets in which the
Company's properties are located, the existence of complex
regulations relating to status as a real estate investment trust
(''REIT'') and the adverse consequences of the failure to qualify
as a REIT, risks relating to litigation and the potential adverse
impact of market interest rates on the market price for the
Company's securities and other risks described in the company's
filings with the Securities and Exchange Commission.
SOURCE Liberty Property Trust