PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 3:55 PM
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Slide #525. Boston Properties, Inc. — Preferred Stock Offering
Company:
Boston Properties, Inc. (NYSE:BXP)
Date announced:
3/19/2013
Shares Offered:
8,000,000
Date of Pricing:
3/19/2013
Price Per Share:
$25
Preferred Stock Offering Details:
Boston Properties, Inc. (NYSE:BXP), a real estate investment trust, announced today that it has priced an underwritten public offering of 8,000,000 depositary shares, each representing a 1/100th of a share of its newly designated 5.25% Series B Cumulative Redeemable Preferred Stock, at a price of $25.00 per depositary share. The Company has granted the underwriters an option to purchase up to an additional 1,200,000 depositary shares within 30 days solely to cover over-allotments, if any. The offering is expected to close on or about March 27, 2013, subject to customary closing conditions.
Boston Properties is a real estate investment trust that develops, owns and manages office properties. Co.'s properties are concentrated in six markets: Boston, Los Angeles, New York, San Francisco, Seattle and Washington, DC. Co. is a real estate company, with in-house capabilities and resources in acquisitions, development, financing, capital markets, construction management, property management, marketing, leasing, accounting, risk management, tax and legal services. Co. manages Boston Properties Limited Partnership, which is the entity through which Co. conducts substantially all of its business and owns, either directly or through subsidiaries, substantially all of its assets.
Preferred: BXP.PRB
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Avg. Broker Rec.
  
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Hold (2.47 out of 4) 10th percentile
(ranked lower than approx. 90% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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