Kite Realty Group Launches $300 Mln Offering Of Senior Notes
(RTTNews) - Monday, Kite Realty Group Trust (KRG) announced that its operating partnership, Kite Realty Group, L.P., launched a $300 million offering of exchangeable senior notes due 2032 in a private placement.
Additionally, the operating partnership intends to grant the initial purchasers an option to purchase up to an additional $45 million of notes.
It intends to use the proceeds to enter into the capped call transactions, repurchase up to approximately $30 million of common shares, repay or redeem all of the principal amount of 4.00% senior unsecured notes due 2026 at or before maturity.
In the pre-market hours, KRG is trading at $29.00, down 0.75 percent on the New York Stock Exchange.
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