Forest City announces adjustment of conversion rates for 4.25% Convertible Senior Notes due 2018 and 3.625% Convertible Senior Notes due 2020

CLEVELAND, June 11, 2018 /PRNewswire/ -- Forest City Realty Trust, Inc. (NYSE: FCEA) today announced adjustments to the conversion rates for the company's 4.25% Convertible Senior Notes due 2018 and 3.625% Convertible Senior Notes due 2020 (the "Notes"). The conversion rate adjustments are being made pursuant to the indentures governing the Notes as a result of the cumulative impact of the company's previously announced first quarter and second quarter 2018 common stock cash dividends of $0.18 per common share in each quarter.

4.25% Convertible Senior Notes due 2018
Effective immediately after the opening of business on June 8, 2018, the conversion rate for the 4.25% Convertible Senior Notes due 2018 was adjusted from 47.8122 to 48.6489 shares of common stock per $1,000 principal amount of these Notes. 

3.625% Convertible Senior Notes due 2020
Effective immediately after the opening of business on June 8, 2018, the conversion rate for the 3.625% Convertible Senior Notes due 2020 was adjusted from 42.8079 to 43.5570 shares of common stock per $1,000 principal amount of these Notes.

Notice of the conversion rate adjustments was delivered to holders of the Notes and The Bank of New York Mellon Trust Company, N.A., as trustee, in accordance with the terms of the indentures governing the Notes.

About Forest City
Forest City Realty Trust, Inc. is a NYSE-listed national real estate company with $8.0 billion in consolidated assets. The Company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate throughout the United States.  For more information, visit www.forestcity.net.

SOURCE Forest City Realty Trust, Inc.

Related Links

http://www.forestcity.net