EQR » Topics » 9. Notes

This excerpt taken from the EQR 10-Q filed May 8, 2008.
                                    Notes

 

As of March 31, 2008, the Company had outstanding unsecured notes of approximately $5.8 billion. There were no significant transactions during the quarter ended March 31, 2008.

 

As of March 31, 2008, scheduled maturities for the Company’s outstanding notes were at various dates through 2029. At March 31, 2008, the interest rate range on the Company’s notes was 3.85% to 7.57%. During the quarter ended March 31, 2008, the weighted average interest rate on the Company’s notes was 5.60%.

 

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This excerpt taken from the EQR 10-Q filed Nov 7, 2007.
Notes

 

As of September 30, 2007, the Company had outstanding unsecured notes of approximately $5.3 billion.

 

During the nine months ended September 30, 2007, the Company:

 

                  Issued $350.0 million of five-year 5.50% fixed rate public notes, receiving net proceeds of $346.1 million;

                  Issued $650.0 million of ten-year 5.75% fixed rate public notes, receiving net proceeds of $640.6 million;

                  Repaid $50.0 million of 7.625% fixed rate public notes at maturity;

                  Repaid $50.0 million of 6.90% fixed rate public notes at maturity; and

                  Repaid $4.3 million of 7.54% fixed rate senior unsecured notes.

 

As of September 30, 2007, scheduled maturities for the Company’s outstanding notes were at various dates through 2029.  At September 30, 2007, the interest rate range on the Company’s notes was 3.85% to 7.57%.  During the nine months ended September 30, 2007, the weighted average interest rate on the Company’s notes was 5.66%.

 

 

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This excerpt taken from the EQR 10-Q filed Aug 7, 2007.
                                     Notes

As of June 30, 2007, the Company had outstanding unsecured notes of approximately $5.4 billion.

During the six months ended June 30, 2007, the Company:

·                  Issued $350.0 million of five year 5.50% fixed rate public notes, receiving net proceeds of $346.1 million;

·                  Issued $650.0 million of ten year 5.75% fixed rate public notes, receiving net proceeds of $640.6 million; and

·                  Repaid $50.0 million of 7.625% fixed rate public notes at maturity.

As of June 30, 2007, scheduled maturities for the Company’s outstanding notes were at various dates through 2029.  At June 30, 2007, the interest rate range on the Company’s notes was 3.85% to 7.57%.  During the six months ended June 30, 2007, the weighted average interest rate on the Company’s notes was 5.66%.

This excerpt taken from the EQR 10-Q filed May 9, 2007.
                                      Notes

As of March 31, 2007, the Company had outstanding unsecured notes of approximately $4.4 billion.  There were no significant transactions during the quarter ended March 31, 2007.

As of March 31, 2007, scheduled maturities for the Company’s outstanding notes were at various dates through 2029.  At March 31, 2007, the interest rate range on the Company’s notes was 3.85% to 7.625%.  During the quarter ended March 31, 2007, the weighted average interest rate on the Company’s notes was 5.70%.

This excerpt taken from the EQR 10-Q filed Nov 6, 2006.

9.                       Notes

As of September 30, 2006, the Company had outstanding unsecured notes of approximately $4.5 billion.

During the nine months ended September 30, 2006, the Company:

·         Issued $400.0 million of ten and one-half year 5.375% fixed rate public notes, receiving net proceeds of $395.5 million; and

·         Issued $650.0 million of twenty year 3.85% fixed rate public notes that are exchangeable into EQR Common Shares, receiving net proceeds of $637.0 million (see further discussion below).

On August 23, 2006, the Company issued $650.0 million of exchangeable senior notes that mature on August 15, 2026.  The notes bear interest at a fixed rate of 3.85%.  The notes are exchangeable into EQR Common Shares, at the option of the holders, under specific circumstances or on or after August 15, 2025, at an initial exchange rate of 16.3934 shares per $1,000 principal amount of notes (equivalent to an initial exchange price of $61.00 per share).  The initial exchange rate is subject to adjustment in certain circumstances, including upon an increase in the Company’s dividend rate.  Upon an exchange of the notes, the Company will settle any amounts up to the principal amount of the notes in cash and the remaining exchange value, if any, will be settled, at the Company’s option, in cash, EQR Common Shares or a combination of both.

On or after August 18, 2011, the Company may redeem the notes at a redemption price equal to the principal amount of the notes plus any accrued and unpaid interest thereon.  Upon notice of redemption by the Company, the holders may elect to exercise their exchange rights.  In addition, on August 18, 2011, August 15, 2016 and August 15, 2021 or following the occurrence of certain change in control transactions prior to August 18, 2011, note holders may require the Company to repurchase the notes for an amount equal to the principal amount of the notes plus any accrued and unpaid interest thereon.

Note holders may also require an exchange of the notes subsequent to September 30, 2006 should the closing sale price of EQR Common Shares exceed 130% of the exchange price for a certain period of time or should the trading price on the notes be less than 98% of the product of the closing sales price of EQR Common Shares multiplied by the applicable exchange rate for a certain period of time.

As of September 30, 2006, scheduled maturities for the Company’s outstanding notes were at various dates through 2029.  At September 30, 2006, the interest rate range on the Company’s notes was 3.85% to 7.625%.  During the nine months ended September 30, 2006, the weighted average interest rate on the Company’s notes was 5.97%.

This excerpt taken from the EQR 10-Q filed Aug 7, 2006.

9.             Notes

As of June 30, 2006, the Company had outstanding unsecured notes of approximately $3.8 billion.

During the six months ended June 30, 2006, the Company:

·      Issued $400.0 million of ten and one-half year 5.375% fixed rate public notes, receiving net proceeds of $395.5 million.

As of June 30, 2006, scheduled maturities for the Company’s outstanding notes were at various dates through 2029.  At June 30, 2006, the interest rate range on the Company’s notes was 4.75% to 7.625%.  During the six months ended June 30, 2006, the weighted average interest rate on the Company’s notes was 6.05%.

This excerpt taken from the EQR 10-Q filed May 8, 2006.

9.              Notes

As of March 31, 2006, the Company had outstanding unsecured notes of approximately $3.8 billion.

During the quarter ended March 31, 2006, the Company:

·                  Issued $400.0 million of ten and one-half year 5.375% fixed rate public notes, receiving net proceeds of $395.5 million.

As of March 31, 2006, scheduled maturities for the Company’s outstanding notes were at various dates through 2029. At March 31, 2006, the interest rate range on the Company’s notes was 4.75% to 7.625%. During the quarter ended March 31, 2006, the weighted average interest rate on the Company’s notes was 6.08%.

This excerpt taken from the EQR 10-Q filed May 9, 2005.

9.             Notes

 

As of March 31, 2005, the Company had outstanding unsecured notes of approximately $3.1 billion.

 

As of March 31, 2005, scheduled maturities for the Company’s outstanding notes were at various dates through 2029.  At March 31, 2005, the interest rate range on the Company’s notes was 4.75% to 7.75%.  During the quarter ended March 31, 2005, the weighted average interest rate on the Company’s notes was 6.16%.

 

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