Contact Information: Contact Information: Media: Jim Bremner 317.808.6920 jim.bremner@dukerealty.com Investors: Randy Henry 317.808.6060 randy.henry@dukerealty.com
Duke Realty Corporation Sells $500 Million of Senior Unsecured Notes
| Source: Duke Realty Corporation
INDIANAPOLIS, IN--(Marketwire - August 6, 2009) - Duke Realty Corporation (NYSE : DRE ), a
leading industrial and office property REIT, announced today that its
operating partnership, Duke Realty Limited Partnership ("the Operating
Partnership"), has priced $500 million of its senior unsecured notes in an
underwritten public offering. The offering consists of $250 million of
7.375% notes due 2015 offered through Wells Fargo Securities, LLC, Morgan
Stanley & Co. Incorporated, and UBS Securities LLC, as joint book-running
managers, and $250 million of 8.25% notes due 2019 offered through Wells
Fargo Securities, LLC, Morgan Stanley & Co. Incorporated, and UBS
Securities LLC, as joint book-running managers, as well as Barclays
Capital, Inc., Mitsubishi UFJ Securities (USA), Inc., Morgan Keegan &
Company, Inc., RBC Capital Markets Corporation, RBS Securities Inc., Scotia
Capital (USA) Inc., and U.S. Bancorp Investments, Inc. acting as
co-managers. The offering is expected to close on August 11, 2009.
The Operating Partnership presently intends to use the net proceeds to
reduce its outstanding indebtedness.
Copies of the prospectus supplement may be obtained from Wells Fargo
Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North
Carolina 28262, Attention: Syndicate Operations, telephone 1-800-326-5897;
Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, New York
10014, Attention: Prospectus Department, telephone (866)-718-1649; or UBS
Securities, LLC, 299 Park Avenue, New York, New York 10171, Attention:
Prospectus Department, telephone 1-877-827-6444, ext. 561-3884.
This news release does not constitute an offer to sell or the solicitation
of an offer to buy any securities in any jurisdiction to any person to whom
it is unlawful to make such offer or solicitation in such jurisdiction.
About Duke Realty Corporation
Duke Realty Corporation owns and operates approximately 136 million
rentable square feet of industrial and office space in 20 U.S. cities. Duke
Realty Corporation is publicly traded on the NYSE under the symbol DRE and
is listed on the S&P MidCap 400 Index. More information about Duke is
available at www.dukerealty.com.
Cautionary Notice Regarding Forward-Looking Statements
This news release may contain forward-looking statements within the meaning
of the federal securities laws. All statements, other than statements of
historical facts, including, among others, statements regarding the
company's future financial position, projected financing sources, future
transactions with joint venture partners, future dividends, and future
performance, are forward-looking statements. Those statements include
statements regarding the intent, belief or current expectations of the
company, members of its management team, as well as the assumptions on
which such statements are based, and generally are identified by the use of
words such as "may," "will," "seeks," "anticipates," "believes,"
"estimates," "expects," "plans," "intends," "should," or similar
expressions. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that actual results may
differ materially from those contemplated by such forward-looking
statements. Many of these factors are beyond the company's abilities to
control or predict. Such factors include, but are not limited to, (i)
general adverse economic and local real estate conditions, including the
current economic recession; (ii) the inability of major tenants to continue
paying their rent obligations due to bankruptcy, insolvency or a general
downturn in their business; (iii) financing risks, such as the inability to
obtain equity, debt or other sources of financing or refinancing on
favorable terms, if at all; (iv) the company's ability to raise capital by
selling its assets; (v) changes in governmental laws and regulations; (vi)
the level and volatility of interest rates and foreign currency exchange
rates; (vii) valuation of joint venture investments, (viii) valuation of
marketable securities and other investments; (ix) increases in operating
costs; (x) changes in the dividend policy for the company's common stock;
(xi) the reduction in the company's income in the event of multiple lease
terminations by tenants; and (xii) impairment charges. Additional
information concerning factors that could cause actual results to differ
materially from those forward-looking statements is contained from time to
time in the company's filings with the Securities and Exchange Commission.
The company refers you to the section entitled "Risk Factors" contained in
the company's Annual Report on Form 10-K for the year ended December 31,
2008. Copies of each filing may be obtained from the company or the
Securities and Exchange Commission.
The risks included here are not exhaustive and undue reliance should not be
placed on any forward-looking statements, which are based on current
expectations. All written and oral forward-looking statements attributable
to the company, its management, or persons acting on their behalf are
qualified in their entirety by these cautionary statements. Further,
forward-looking statements speak only as of the date they are made, and the
company undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of unanticipated
events or changes to future operating results over time unless otherwise
required by law.