WASHINGTON (dpa-AFX) - NorthStar Realty Finance Corp. (NRF) Friday priced a private offering of $300 million principal amount of its operating partnership's 5.375 percent exchangeable senior notes due 2033.
The operating partnership has granted to the initial purchasers a 30 day option to purchase up to an additional $45 million principal amount of notes solely to cover over-allotments, if any.
The initial exchange rate for the notes will be 102.7221 shares per $1,000 principal amount of notes with initial exchange price of approximately $9.74 per share.
Net proceeds from the offering will be available for investments, including the pending acquisition of limited partnership interests in up to 25 real estate private equity funds, to repurchase or pay its liabilities and for general corporate purposes.
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