Investment Company - Capital Offerings
| RAIT Financial Trust initiates exchange offer |  |
November 04, 2009 6:50 PM ET
By Zaeem Shoaib
|  Related Companies | Related Documents | Related Offerings |
RAIT Financial Trust disclosed an exchange offer in a registration statement filed Nov. 4. Under the offer, the company will exchange up to 12,921,620, or approximately $149.3 million, of its common shares of beneficial interest for an undisclosed amount of its 6.875% convertible senior notes due 2027. The offer is conditioned on at least $25 million aggregate principal amount of the convertible notes being validly tendered and not validly withdrawn and the satisfaction of certain other customary conditions. RAIT Financial said it will not receive any proceeds from the exchange offer. UBS Investment Bank is serving as the dealer manager for the exchange offer, while D.F. King & Co. Inc. is serving as exchange agent for the offering. | 
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