Dallas, Texas 03/21/2014 (FINANCIALSTRENDS) – Gramercy Property Trust Inc (NYSE:GPT) has in the past week, following its fund-raising spree, slipped on the stock market. The company proposed to raise over $100 million in the form of exchangeable note offering. These are 7 year noted and will carry coupons of 3.75%. The first rates at which these can be exchanged is 161, 1863, which is the common stock for the $1,000 principal notes. In terms of equivalent exchange price, it reads $6.20, which is 205 lesser than the premium in the previous close.
Gramercy Property Trust Inc (NYSE:GPT) has also left it open-ended with $15 million as additional costs.
Gramercy Property Trust Inc (NYSE:GPT) holds a market cap of $396.31 million. The company has a dividend of 0.04 and the yield is 2.59. EPS for this stock is -0.27. The outstanding share the company holds is 73.41 million. The company holds 52 week high of $6.28 and low of $3.96. The average volume is 650,500 per share.
Gramercy Property Trust Inc (NYSE:GPT) has proposed these senior unsecured obligations on an operating partnership. These are guaranteed by the company as part of the senior unsecured basis.
Gramercy Property Trust Inc (NYSE:GPT) has also announced that the interest rate, as well as the exchange rate, beside other terms of the notes are to be indicated after longer discussions.
Gramercy Property Trust Inc (NYSE:GPT) will operate this fund raising venture as an Operating Partnership which will begin to use the net proceeds of the company to lower the amount of outstanding it will receive. This follows the senior secured revolving credit it will now gain.
All transactions pertaining to the notes and shares of the common stock of the company will not be subject to the Securities Act or the securities laws of others. These may not be sold or offered in the United States either.