Colonial Properties Trust (CLP) To Offer 9M Shares
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Colonial Properties Trust (NYSE: CLP) commenced a public offering of 9,000,000 of its common shares.
The Company plans to use the net proceeds from the offering to repay a portion of the outstanding balance under its unsecured revolving credit facility and for general corporate purposes. BofA Merrill Lynch, Wells Fargo Securities and UBS Investment Bank are the joint book-running managers for the offering. The underwriters will be granted a 30-day option to purchase up to 1,350,000 additional common shares to cover overallotments, if any.
The Company plans to use the net proceeds from the offering to repay a portion of the outstanding balance under its unsecured revolving credit facility and for general corporate purposes. BofA Merrill Lynch, Wells Fargo Securities and UBS Investment Bank are the joint book-running managers for the offering. The underwriters will be granted a 30-day option to purchase up to 1,350,000 additional common shares to cover overallotments, if any.
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