| Issuer / Guarantor | Federal Realty OP LP |
|---|---|
| Size | USD 400mn |
| Type | Convertible |
| Leads | Wells Fargo, BoA, JP Morgan |
| Maturity | 15 Aug 2031 (5 years) |
| Coupon | 3.5% (3.125 - 3.625%) |
| Premium | 17.5% (17.5 - 22.5%) |
| Calls | NC3; PC @ 130% w table MW |
| Puts | t/o @ 100% |
| Div protection | Ratio adjustment (for excess above threshold) |
| T/o protection | Make-whole table |
| CoCo | 130% to May 2031 (4.8 yrs) |
| Announced | 06 Aug 2026 |