Gramercy slips a bit more after pricing exchangeable note offering

|About: Gramercy Property Trust,... (GPT)|By:, SA News Editor

The $100M of 5-year notes carry a coupon of 3.75%. The initial exchange rate is 161.1863 shares of GPT common stock for every $1K principal amount of notes - an equivalent exchange price of $6.20, or a 20% premium to last night's close.

Shares -0.4% to $5.15 premarket