Kite Realty Group Announces Pricing of $300 Million Exchangeable Senior Notes Offering
Kite Realty Group priced $300 million of 3.25% exchangeable senior notes due 2032, with an option for initial purchasers to buy an additional $45 million. The net proceeds will be used to enter into capped call transactions, repay all $300 million of the company's 4.00% senior unsecured notes due 2026, and repurchase approximately $30 million of common shares.
Key figures
- Deal Value Usd
- 300000000
- Coupon
- 3.25%
- Maturity year
- 2032
- Repaid coupon
- 4.00%
- Exchange price
- $35.40
- Exchange premium
- 22.5%
- Capped call cap price
- $41.91
- Notes repaid principal
- $300 million
- Share repurchase amount
- $30 million
AI analysis
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