Duke Realty (DRE) prices $350 million senior notes.

Duke Realty Corporation (DRE) announced today that it has priced an offering of $350 million 1.75% senior unsecured notes due 2030.  The notes will be issued at a discount to yield 1.852%, or 115 basis points over the treasury curve.  The company said that proceeds would be used to fund a cash tender offer for Duke's outstanding $300 million 3.875% senior notes due 2022.

Founded in 1972, Duke Realty is one of the largest owners of industrial warehouse properties in the U.S.  DRE has a total market capitalization of approximately $15.2 billion and is a member of the S&P 500.