Regency Centers Corporation (“Regency” or the “Company”)
(NASDAQ:REG) announced today that its operating partnership,
Regency Centers, L.P., priced a public offering of $600 million
3.70% notes due 2030 (the “Notes”). The Notes are due June 15, 2030
and were priced at 99.805%. Interest on the Notes is payable
semiannually on June 15 and December 15 of each year, with the
first payment on December 15, 2020.
The Company intends to use the net proceeds of
the offering to increase liquidity, reduce the outstanding balance
on its line of credit, and for general corporate purposes, which
may include the future repayment of a portion of its outstanding
debt. Settlement of the offering is subject to the satisfaction of
customary closing conditions and is expected to occur on May 13,
2020.
Wells Fargo Securities, LLC, BofA Securities,
Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC,
SunTrust Robinson Humphrey, Inc., and U.S. Bancorp Investments,
Inc. are acting as the joint book-running managers. PNC Capital
Markets LLC and Regions Securities LLC are acting as senior
co-managers. BMO Capital Markets Corp., SMBC Nikko Securities
America, Inc., TD Securities (USA) LLC, Comerica Securities, Inc.,
Scotia Capital (USA) Inc., and Roberts & Ryan Investments, 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) 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; (ii) BofA Securities, Attn:
Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd
floor, Charlotte, NC 28255-0001 or email:
dg.prospectus_requests@bofa.com; (iii) J.P. Morgan Securities LLC,
383 Madison Ave., New York, NY 10179, Attention: Investment Grade
Syndicate Desk, telephone: (212) 834-4533. 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
(NASDAQ: REG)
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 their 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
Certain statements in this document regarding
anticipated financial, business, legal or other outcomes including
business and market conditions, outlook and other similar
statements relating to Regency’s future events, developments, or
financial or operational performance or results, are
“forward-looking statements” made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and other federal securities laws. These forward-looking statements
are identified by the use of words such as “may,” “will,” “should,”
“expect,” “estimate,” “believe,” “intend,” “forecast,”
“anticipate,” “guidance,” and other similar language. However, the
absence of these or similar words or expressions does not mean a
statement is not forward-looking. While we believe these
forward-looking statements are reasonable when made,
forward-looking statements are not guarantees of future performance
or events and undue reliance should not be placed on these
statements. Although we believe the expectations reflected in any
forward-looking statements are based on reasonable assumptions, we
can give no assurance these expectations will be attained, and it
is possible actual results may differ materially from those
indicated by these forward-looking statements due to a variety of
risks and uncertainties.
Our operations are subject to a number of risks
and uncertainties including, but not limited to, those listed
below. When considering an investment in our securities, you should
carefully read and consider these risks, together with all other
information in our Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q and our other filings and submissions to the SEC,
which provide much more information and detail on the risks
described below. If any of the events described in the following
risk factors actually occur, our business, financial condition or
operating results, as well as the market price of our securities,
could be materially adversely affected. Forward-looking statements
are only as of the date they are made, and Regency undertakes no
duty to update its forward-looking statements except as required by
law.
Laura Clark904 598
7831LauraClark@RegencyCenters.com
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