Monmouth Real Estate Investment Corporation Announces Redemption Of Monmouth Capital Corporation's 8% Convertible Subordinated Debentures Due 2013 And 2015
FREEHOLD, N.J., Dec. 3, 2012 /PRNewswire/ -- Monmouth Real Estate Investment Corporation (NYSE: MNR) (the "Company"), a real estate investment trust ("REIT") specializing in net-leased industrial properties, today announced that its wholly-owned subsidiary, Monmouth Capital Corporation ("MCC"), redeemed all of its outstanding 8% Convertible Subordinated Debentures Due 2013 and 8% Convertible Subordinated Debentures due 2015 (the "Debentures"), on Friday, November 30, 2012, at a redemption price of 100% of the principal amount of the Debentures being redeemed plus interest accrued to, but excluding, the redemption date. Prior to the redemption, there were outstanding $120,000 in principal amount of Debentures due 2013 and $4,745,000 in principal amount of Debentures due 2015.
Monmouth Real Estate Investment Corporation, which was organized in 1968, is a publicly owned REIT specializing in net-leased industrial properties subject to long-term leases primarily to investment grade tenants. The Company is a fully integrated and self-managed real estate company, whose property portfolio consists of seventy-two industrial properties and one shopping center located in twenty-six states. In addition, the Company owns a portfolio of REIT securities.
This press release does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell Debentures or shares of the Company's common stock, nor shall there be any purchase or sale of any Debentures or shares of the Company's common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
SOURCE Monmouth Real Estate Investment Corporation
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