NEWTON, Mass.--(BUSINESS WIRE)--
CommonWealth REIT (NYSE: CWH) today announced it has commenced a public
offering of 27,000,000 common shares. CWH expects that the underwriters
will also be granted a 30-day option to purchase up to an additional
4,050,000 common shares.
CWH expects to use the proceeds of this offering to purchase up to $450
million of unsecured senior notes due between 2014 and 2016 in a tender
offer CWH has also announced today. The tender offer is conditioned upon
this offering. However, the completion of the tender offer is not a
condition of the sale of the common shares being sold in this equity
offering. Proceeds from the sale of common shares not used to repurchase
notes in the tender offer will be used to repay other debt and to fund
general business purposes. This press release is not an offer to buy or
solicitation of an offer to sell any of the notes subject to the tender
offer; for more information about the tender offer, please see a
separate press release regarding the tender offer and the documents
referenced therein.
The joint book running managers for the common share offering are
Citigroup, BofA Merrill Lynch, UBS Investment Bank and Morgan Stanley.
The joint lead managers are Jefferies and RBC Capital Markets.
This press release is neither an offer to sell nor a solicitation of an
offer to buy CWH common shares, nor shall there be any sale of these
securities in any state or jurisdiction in which the offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of such state or jurisdiction. The preliminary
prospectus supplement relating to this offering and related prospectus
are expected to be filed with the Securities and Exchange Commission
(SEC) and copies can be obtained by contacting the offices of:
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, telephone: (800) 831-9146; BofA Merrill Lynch, Attn:
Prospectus Department, 222 Broadway, New York, NY 10038; email
[email protected]; UBS Investment Bank, Attn: Prospectus
Department, 299 Park Avenue, New York, NY 10171, telephone: (888)
827-7275; or Morgan Stanley, Attn: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, NY 10014, telephone (866)
718-1649, email: [email protected].
WARNING CONCERNING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE
MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON
CWH’S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE STATEMENTS ARE NOT
GUARANTEED. FOR EXAMPLE, ALTHOUGH THIS PRESS RELEASE REFERS TO AN
OFFERING OF 27,000,000 COMMON SHARES, GREATER OR LESS THAN 27,000,000
COMMON SHARES MAY BE SOLD OR THIS OFFERING MAY BE WITHDRAWN. INVESTORS
SHOULD NOT PLACE UNDUE RELIANCE UPON ANY FORWARD LOOKING STATEMENT.
A Maryland Real Estate Trust with transferable shares of beneficial
interest listed on the New York Stock Exchange.No shareholder,
Trustee or officer is personally liable for any act or obligation of the
Trust.
CommonWealth REIT
Timothy A. Bonang, Vice President, Investor
Relations
Carlynn Finn, Senior Manager, Investor Relations
617-796-8222
www.cwhreit.com
Source: CommonWealth REIT