Regency Centers Corporation (“Regency,” “Regency Centers,” or the
“Company”) (Nasdaq: REG) announced today that its operating
partnership, Regency Centers, L.P., has priced a $400 million
public offering of senior unsecured notes due 2034 (the “Notes”)
under its existing shelf registration filed with the Securities and
Exchange Commission (the “SEC”). The Notes will mature on January
15, 2034, and were issued at 99.617% of par value with a coupon of
5.250%. Interest on the Notes will be payable semiannually on
January 15 and July 15 of each year, with the first payment due and
payable on July 15, 2024.
Regency intends to use the net proceeds of the
offering to reduce the outstanding balance on its line of credit
and for general corporate purposes, including, but not limited to,
the future repayment of outstanding debt. Prior to using any of the
net proceeds, the Company may invest the net proceeds in
certificates of deposit, interest-bearing short-term investment
grade securities or money-market accounts. Settlement of the
offering is subject to the satisfaction of customary closing
conditions and is expected to occur on January 18, 2024.
BofA Securities, Inc., J.P. Morgan Securities
LLC, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC,
PNC Capital Markets LLC, and TD Securities (USA) LLC are acting as
joint book-running managers. Mizuho Securities USA LLC, Regions
Securities LLC and Truist Securities, Inc. are acting as senior
co-managers. BMO Capital Markets Corp., BNY Mellon Capital Markets,
LLC, RBC Capital Markets, LLC, and Scotia Capital (USA) Inc. are
acting as co-managers.
Regency Centers, L.P. has filed a registration
statement (including a prospectus and related prospectus
supplement) with the SEC with respect to the offering of the Notes.
Before you invest, you should read the prospectus in that
registration statement and the prospectus supplement for the
offering, as well as the other documents Regency Centers, L.P. has
filed with the SEC for more complete information about Regency
Centers, L.P. and the offering. You may get these documents for
free by visiting EDGAR on the SEC website at http://www.sec.gov.
Alternatively, by calling BofA Securities, Inc. at 1-800-294-1322,
J.P. Morgan Securities LLC at 1-212-834-4533, U.S. Bancorp
Investments, Inc. at 1-877-558-2607, or Wells Fargo Securities, LLC
at 1-800-645-3751, such underwriter will arrange to send you the
prospectus and the related prospectus supplement if you request
it.
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 a preeminent national owner,
operator, and developer of shopping centers located in suburban
trade areas with compelling demographics. 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
StatementsCertain 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," "could,"
"should," "would," "expect," "estimate," "believe," "intend,"
"forecast," "project," "plan," "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, risk factors
described in our SEC filings, including, without limitation, our
Annual Report on Form 10-K for the year ended December 31, 2022
("2022 Form 10-K") under Item 1A. "Risk Factors" and in Part II,
Item 1A. "Risk Factors" in subsequent Quarterly Reports on Form
10-Q. When considering an investment in our securities, you should
carefully read and consider these risks, together with all other
information in our 2022 Form 10-K, subsequent Quarterly Reports on
Form 10-Q and our other filings with and submissions to the SEC. If
any of the events described in such 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, whether as a result of new information,
future events, or developments otherwise, except as and to the
extent required by law.
Christy McElroy904 598
7616ChristyMcElroy@regencycenters.com
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