Regency Centers Prices $425 Million of Senior Unsecured Notes
August 13 2019 - 4:35PM
Regency Centers Corporation (“Regency” or the “Company”)
(NASDAQ:REG) announced today that its operating partnership,
Regency Centers, L.P., priced a public offering of $425 million
2.950% notes due 2029 (the “Notes”). The Notes are due September
15, 2029 and were priced at 99.903%. Interest on the Notes is
payable semiannually on March 15 and September 15 of each year,
with the first payment on March 15, 2020.
The Company intends to use the net proceeds of
the offering (i) to repay in full its outstanding $300 million term
loan that matures on December 2, 2020, including an interest rate
swap breakage fee of approximately $1.1 million, (ii) to reduce the
outstanding balance on its line of credit, and (iii) for general
corporate purposes. Settlement of the offering is subject to the
satisfaction of customary closing conditions and is expected to
occur on August 20, 2019.
U.S. Bancorp Investments, Inc., BofA Securities,
Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, and
Wells Fargo Securities, LLC, are acting as the joint book-running
managers. PNC Capital Markets LLC, SunTrust Robinson Humphrey,
Inc., and Regions Securities LLC are acting as senior
co-managers. BB&T Capital Markets, a division of BB&T
Securities, LLC, BMO Capital Markets Corp., SMBC Nikko Securities
America, Inc., TD Securities (USA) LLC and Comerica Securities,
Inc. are acting as co-managers.
This offering will be made under Regency
Centers, L.P.’s and the Company’s effective shelf registration
statement filed with the Securities and Exchange Commission and
only by means of a prospectus supplement and accompanying
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933. Copies of these documents may be obtained by
contacting the underwriters at (i) U.S. Bancorp Investments, Inc.,
214 North Tryon Street, 26th Floor, Charlotte, NC 28202, Attention:
High Grade Syndicate or by calling toll-free: (877) 558-2607; (ii)
BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd
Floor, Charlotte, NC, 28255-001, Attention: Prospectus Department,
email: dg.prospectus_requests@baml.com, (iii) J.P. Morgan
Securities LLC, 383 Madison Ave., New York, NY 10179, Attention:
Investment Grade Syndicate Desk, telephone: (212) 834-4533; (iv)
Mizuho Securities USA LLC, 320 Park Avenue, 12th Floor, New York,
NY, 10022, Attn: Debt Capital Markets, toll-free: (866) 271-7403;
(v) Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000,
Minneapolis, MN 55402, Attention: WFS Customer Service, toll-free:
(800) 645-3751 or email: wfscustomerservice@wellsfargo.com.
Alternatively, you may request copies of these documents without
charge from the SEC by visiting www.sec.gov.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy any security and
shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Regency Centers
Corporation
Regency Centers is the preeminent national
owner, operator, and developer of shopping centers located in
affluent and densely populated trade areas. Our portfolio includes
thriving properties merchandised with highly productive grocers,
restaurants, service providers, and best-in-class retailers that
connect to our neighborhoods, communities, and customers. Operating
as a fully integrated real estate company, Regency Centers is a
qualified real estate investment trust (REIT) that is
self-administered, self-managed, and an S&P 500 Index member.
For more information, please visit regencycenters.com.
Forward-looking statements involve risks and
uncertainties. Actual future performance, outcomes and
results may differ materially from those expressed in
forward-looking statements. Please refer to the documents
filed by Regency Centers Corporation with the SEC, specifically the
most recent reports on Forms 10-K and 10-Q, which identify
important risk factors which could cause actual results to differ
from those contained in the forward-looking statements.
Laura Clark904 598
7831LauraClark@RegencyCenters.com
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