Kite Realty (KRG) to Offer 9.5M Common
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Kite Realty Group Trust (NYSE: KRG) announced today that it has commenced an underwritten public offering of 9,500,000 common shares of beneficial interest.
The book-running managers for this offering are BofA Merrill Lynch, Citigroup, KeyBanc Capital Markets and Raymond James, and the lead manager is Wells Fargo Securities. The underwriters will be granted a 30-day option to purchase up to an additional 1,425,000 common shares of beneficial interest.
The Company intends to use all of the net proceeds from this offering to repay amounts outstanding under its revolving credit facility. Such net proceeds may be redeployed for other general corporate purposes, including the acquisition of properties and redevelopment costs.
The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission, which became effective on January 11, 2012. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.
The book-running managers for this offering are BofA Merrill Lynch, Citigroup, KeyBanc Capital Markets and Raymond James, and the lead manager is Wells Fargo Securities. The underwriters will be granted a 30-day option to purchase up to an additional 1,425,000 common shares of beneficial interest.
The Company intends to use all of the net proceeds from this offering to repay amounts outstanding under its revolving credit facility. Such net proceeds may be redeployed for other general corporate purposes, including the acquisition of properties and redevelopment costs.
The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission, which became effective on January 11, 2012. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.
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