Kite Realty Group Announces Closing of Offering of 3.25% Exchangeable Senior Notes due 2032
Kite Realty Group closed a $345 million offering of 3.25% exchangeable senior notes due 2032, including the full exercise of the overallotment option. Proceeds from the offering will be used to repay all $300 million of the company's 4.00% senior unsecured notes due 2026, extending the debt maturity by six years and lowering the interest rate by 75 basis points.
Key figures
- Deal Value Usd
- 345000000
- Coupon
- 3.25%
- Maturity
- 2032
- Cap price
- $41.91
- Debt repaid
- $300 million
- Exchange price
- $35.40
- Exchange premium
- 22.5%
- Repurchase amount
- $30 million
AI analysis
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