Weingarten Realty Investors Announces Launch of Common Share Offering
October 01 2008 - 4:12PM
PR Newswire (US)
HOUSTON, Oct. 1 /PRNewswire-FirstCall/ -- Weingarten Realty
Investors (NYSE:WRI) announced today that it plans to sell
2,300,000 common shares of beneficial interest in an underwritten
public offering. The company also plans to grant the underwriters
an option to purchase up to an additional 345,000 common shares of
beneficial interest to cover overallotments, if any. All of the
shares will be offered by Weingarten Realty Investors and will be
issued under Weingarten Realty Investors' currently effective shelf
registration statement filed with the Securities and Exchange
Commission. The company will use the net proceeds to repay
indebtedness outstanding under its revolving credit facilities and
for other general corporate purposes. Merrill Lynch & Co. and
Morgan Stanley will serve as joint book-running managers, and Banc
of America Securities LLC, J.P. Morgan Securities Inc., RBC Capital
Markets, Robert W. Baird & Co, J.J.B. Hilliard, W.L. Lyons,
LLC, Edward Jones, and Stifel Nicolaus will serve as co-managers,
for the offering. A preliminary prospectus supplement and final
prospectus supplement related to the public offering will be filed
with the Securities and Exchange Commission. Copies of the
preliminary prospectus supplement and final prospectus supplement,
when available, may be obtained from Merrill Lynch & Co., 250
Vesey Street, New York, NY 10080 (telephone: 212-449-1000) or
Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014,
Attn: Prospectus Department or by email at . This press release
shall not constitute an offer to sell or a solicitation of an offer
to buy nor shall there be any sale of these securities in any state
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
state. The offering may be made only by means of a prospectus and
related prospectus supplement. About Weingarten Realty Investors.
Weingarten Realty Investors (NYSE:WRI) is an owner, manager and
developer of commercial real estate. Weingarten is actively
developing, acquiring, and intensively managing properties in 23
states that span the United States from coast-to-coast. As of June
30, 2008, the Company's portfolio of 414 properties included 334
neighborhood and community shopping centers, 77 industrial
properties and three other operating properties. Including
tenant-owned square footage, the Company's portfolio totaled
approximately 73.5 million square feet under management. To learn
more about the Company, please visit http://www.weingarten.com/.
Forward-Looking Statements. Statements included herein that state
the Company's or Management's intentions, hopes, beliefs,
expectations or predictions of the future are "forward-looking"
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 which by their nature, involve known and unknown
risks and uncertainties. The Company's actual results, performance
or achievements could differ materially from those expressed or
implied by such statements. Reference is made to the Company's
regulatory filings with the Securities and Exchange Commission for
information or factors that may impact the Company's performance.
DATASOURCE: Weingarten Realty Investors CONTACT: Weingarten Realty
Investors, +1-713-866-6000 Web site: http://www.weingarten.com/
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