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Liberty Property Trust Prices $300 Million Of 3.375% Senior Notes Due 2023

  Liberty Property Trust Prices $300 Million Of 3.375% Senior Notes Due 2023

PR Newswire

MALVERN, Pa., Dec. 5, 2012

MALVERN, Pa., Dec. 5, 2012 /PRNewswire/ --Liberty Property Trust (NYSE: LRY),
announced today that its limited partnership subsidiary, Liberty Property
Limited Partnership, has priced a $300 million offering of 3.375% senior
unsecured notes under its existing shelf registration. The notes are due June
15, 2023 and were priced to yield 3.386%. The offering is expected to close on
December 10, 2012, subject to customary closing conditions. The proceeds will
be used to repay indebtedness outstanding under the Company's unsecured credit
facility and for general corporate purposes.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P Morgan Securities LLC,
and Wells Fargo Securities, LLC served as joint book-running managers and
Barclays Capital Inc., BB&T Capital Markets, Capital One Southcoast Inc,
Citigroup Global Markets Inc., Mitsubishi UFJ Securities (USA), Inc., Morgan
Stanley & Co. LLC, PNC Capital Markets LLC, RBS Securities Inc., SunTrust
Robinson Humphrey, Inc., The Huntingdon Investment Company, UBS Securities
LLC, and US Bancorp Investments, Inc. served as co-managers.

The offering may be made only by means of a prospectus supplement and
accompanying prospectus. A copy of the prospectus supplement and prospectus
relating to these securities may be obtained, when available, by contacting
Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 7th Floor,
New York, NY 10038, Attn: Prospectus Department, email:
dg.prospectus_requests@baml.com; J.P. Morgan Securities LLC, 383 Madison
Avenue, New York, New York 10179, Attention: High Grade Syndicate Desk, 3rd
floor, telephone collect at (212) 834-4533; or Wells Fargo Securities, LLC,
1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, Attn: Capital
Markets Client Support, telephone: (800) 326-5897, email:
cmclientsupport@wellsfargo.com.

This press release is for informational purposes only and shall not constitute
an offer to sell or the solicitation of an offer to buy any securities nor
shall there be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities, blue sky or other laws of
any such state or other jurisdiction.

Liberty Property Trust is a leader in commercial real estate, serving
customers in the United States and United Kingdom, through the development,
acquisition, ownership and management of superior office and industrial
properties. Liberty's 78 million square foot portfolio includes 650 properties
providing office, distribution and light manufacturing facilities to 1,800
tenants.

The statements contained in this press release may include forward-looking
statements within the meaning of the federal securities law. Although Liberty
believes that the expectations reflected in such forward-looking statements
are based on reasonable assumptions, it can give no assurance that its
expectations will be achieved. As forward-looking statements, these
statements involve important risks, uncertainties and other factors that could
cause actual results to differ materially from the expected results and,
accordingly, such results may differ from those expressed in any
forward-looking statements made by, or on behalf of the Company. The Company
assumes no obligation to update or supplement forward looking statements that
become untrue because of subsequent events. These risks, uncertainties and
other factors include, without limitation, uncertainties affecting real estate
businesses generally (such as entry into new leases, renewals of leases and
dependence on tenants' business operations), risks relating to our ability to
maintain and increase property occupancy and rental rates, risks relating to
the recent credit crisis and economic disruption, risks relating to
construction and development activities, risks relating to acquisition and
disposition activities, risks relating to the integration of the operations of
entities that we have acquired or may acquire, risks relating to joint venture
relationships and any possible need to perform under certain guarantees that
we have issued or may issue in connection with such relationships, possible
environmental liabilities, risks relating to leverage and debt service
(including availability of financing terms acceptable to the Company and
sensitivity of the Company's operations and financing arrangements to
fluctuations in interest rates), dependence on the primary markets in which
the Company's properties are located, the existence of complex regulations
relating to status as a real estate investment trust (''REIT'') and the
adverse consequences of the failure to qualify as a REIT, risks relating to
litigation and the potential adverse impact of market interest rates on the
market price for the Company's securities and other risks described in the
company's filings with the Securities and Exchange Commission.

SOURCE Liberty Property Trust

Website: http://www.libertyproperty.com
Contact: Jeanne A. Leonard, Liberty Property Trust, +1-610-648-1704
 
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