Cases & Deals

DDR completes $175 million registered public offering of depositary shares

Clients DDR Corp.

Jones Day represented DDR Corp., a self-administered and self-managed real estate investment trust, in connection with its registered public offering of 7,000,000 depositary shares, each representing a 1/20th fractional interest in a share of its newly designated 6.375% Class A Cumulative Redeemable Preferred Shares, at a price of $25.00 per depositary share. DDR intends to use the net proceeds from the offering of the depositary shares to repay debt, including but not limited to, its 4.75% Notes due 2018, and for general corporate purposes.