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PRICING SUPPLEMENT DATED JULY 15, 1999 RULE 424(b)(3)
(TO PROSPECTUS DATED FEBRUARY 3, 1999 AND FILE NO. 333-67511
PROSPECTUS SUPPLEMENT DATED FEBRUARY 3, 1999)
NEW PLAN EXCEL REALTY TRUST, INC.
MEDIUM-TERM NOTES -- FIXED RATE
CUSIP NO. 64805E AA0
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PRINCIPAL AMOUNT: INTEREST RATE:
$150,000,000 7.40%
AGENTS' DISCOUNT OR COMMISSION: ORIGINAL ISSUE DATE:
$735,000 JULY 20, 1999
NET PROCEEDS TO ISSUER: STATED MATURITY DATE:
$148,810,500 SEPTEMBER 15, 2009
Interest Payment Dates: September 15 and March 15 (beginning September 15, 1999)
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Day Count Convention:
[X] 30/360
[ ] Actual/360
[ ] Actual/Actual
Redemption:
[X] The Notes cannot be redeemed prior to the Stated Maturity Date.
[ ] The Notes may be redeemed prior to the Stated Maturity Date.
Initial Redemption Date:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction: % until Redemption Percentage
is 100% of the principal amount
Repayment:
[X] The Notes cannot be repaid prior to the Stated Maturity Date.
[ ] The Notes can be repaid prior to the Stated Maturity Date at the option of
the holder of the Notes.
Optional Repayment Date(s):
Repayment Price: %
Currency: U.S. Dollars
Specified Currency (if other than U.S. Dollars):
Denominations (if other than $1,000 and integral multiples thereof):
(Applicable only if Specified Currency is other than U.S. dollars)
Original Issue Discount: [ ] Yes {X} No
Total Amount of OID:
Yield to Maturity:
Initial Accrual Period:
Form: [X] Book-Entry [ ] Certificated
<TABLE>
<S> <C> <C> <C>
Names of Agents: Salomon Smith Barney Inc. -- $56,500,000
Morgan Stanley Dean Witter -- $36,000,000
Merrill Lynch & Co. -- $33,000,000
Lehman Brothers Inc. -- $22,000,000
Banc One Capital Markets, Inc. -- $2,500,000
</TABLE>
Agents acting as: [ ] agent [X] principal (except for Lehman Brothers
Inc., which is acting as agent)
If as principal:
[ ] The Notes are being offered at varying prices related to prevailing
market prices at the time of resale.
[X] The Notes are being offered at a fixed initial public offering
price of 99.697% of principal amount.
If as agent: (with respect to Lehman Brothers Inc.)
The Notes are being offered at a fixed initial public offering price of
99.697% of principal amount.
Other Provisions:
