Kite Realty Group Trust Announces Redemption of 8.25% Series A Cumulative Perpetual Preferred Shares
October 30 2015 - 4:17PM
Business Wire
Kite Realty Group Trust (NYSE:KRG) (the “Company”) today
announced that it intends to redeem all 4,100,000 outstanding
shares of its 8.25% Series A Cumulative Redeemable Perpetual
Preferred Shares (the “Series A Preferred Shares”) on December 7,
2015 (the “Redemption Date”). The Series A Preferred Shares will be
redeemed at a redemption price of $25.00 per share, plus the amount
equal to all dividends accrued and unpaid per share from December
2, 2015, up to, but not including, the Redemption Date.
Dividends on the Series A Preferred Shares will cease to accrue
on the Redemption Date. Upon redemption, the Series A Preferred
Shares will no longer be outstanding, and all rights of the holders
will terminate, except the right of the holders to receive, from
and after the Redemption Date, the redemption price, without
interest. Upon redemption, the Series A Preferred Shares will be
delisted from trading on the New York Stock Exchange on the
Redemption Date.
All Series A Preferred Shares are held in book-entry form
through the Depository Trust Company (“DTC”) and will be redeemed
in accordance with the procedures of DTC. Payment to DTC for the
Series A Preferred Shares will be made by Broadridge Corporate
Issuer Solutions, Inc. as redemption agent.
The address for the redemption agent is as follows:
Broadridge Corporate Issuer Solutions, Inc.51 Mercedes Way,
Edgewood, New York, 11717Attention: Reorg Dept.E-mail:
shareholder@broadridge.com
About Kite Realty Group
Trust
Kite Realty Group Trust is a full-service, vertically integrated
real estate investment trust engaged in the ownership, operation,
management, leasing, acquisition, construction, redevelopment and
development of neighborhood and community shopping centers in
selected markets in the United States. As of September 30, 2015,
the Company owned interests in a portfolio of 124 operating,
development and redevelopment properties totaling approximately 25
million total square feet across 22 states. For more information,
please visit the Company’s website at www.kiterealty.com.
Safe Harbor
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such statements
are based on assumptions and expectations that may not be realized
and are inherently subject to risks, uncertainties and other
factors, many of which cannot be predicted with accuracy and some
of which might not even be anticipated. Future events and actual
results, performance, transactions or achievements, financial or
otherwise, may differ materially from the results, performance,
transactions or achievements, financial or otherwise, expressed or
implied by the forward-looking statements. Risks, uncertainties and
other factors that might cause such differences, some of which
could be material, include, but are not limited to: national and
local economic, business, real estate and other market conditions,
particularly in light of low growth in the U.S. economy, financing
risks, including the availability of and costs associated with
sources of liquidity, the Company’s ability to refinance, or extend
the maturity dates of, its indebtedness, the level and volatility
of interest rates, the financial stability of tenants, including
their ability to pay rent and the risk of tenant bankruptcies, the
competitive environment in which the Company operates, acquisition,
disposition, development, joint venture, property ownership and
management risks, the Company’s ability to maintain its status as a
real estate investment trust for federal income tax purposes,
potential environmental and other liabilities, impairment in the
value of real estate property the Company owns, risks related to
the geographical concentration of our properties in Florida,
Indiana and Texas, the dilutive effects of future offerings of
issuing additional securities, and other factors affecting the real
estate industry generally. The Company refers you to the documents
filed by the Company from time to time with the Securities and
Exchange Commission, specifically the section titled “Risk Factors”
in the Company’s Annual Report on Form 10-K for the year ended
December 31, 2014, which discuss these and other factors that could
adversely affect the Company’s results. The Company undertakes no
obligation to publicly update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
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Kite Realty Group TrustMaggie Kofkoff, CFA, Media & Investor
Relations, 317-713-7644mkofkoff@kiterealty.com
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