Federal Realty Investment Trust announced redemption of its 5.95% Senior Unsecured notes due 2014 (the "Notes") for aggregate principal of $150 million which was completed on December 27, 2013. The redemption price was determined in accordance with the applicable indenture and was approximately $158.3 million, including $3.3 million of accrued and unpaid interest. Excluding such accrued and unpaid interest, the redemption price was approximately 103.36% of the principal amount being redeemed.

The Notes were repaid with proceeds from the $300 million 3.95% senior notes issued in December 2013. Also in December 2013, Federal Realty repaid it $129 million 7.50% mortgage notes due 2014. The total prepayment premium paid during the fourth quarter 2013 for both the Notes and the 7.50% mortgage notes was $9.4 million.