Equity One Agrees to Sell $200 Million of Senior Unsecured Notes Due 2026

NEW YORK--()--Equity One, Inc. (NYSE:EQY), an owner, developer, and operator of shopping centers, announced today that it has agreed to sell $200 million principal amount of Senior Unsecured Notes in a private placement. The company expects to issue $100 million principal amount of 3.81% Series A Senior Unsecured Notes in May 2016 and $100 million principal amount of 3.91% Series B Senior Unsecured Notes by August 2016. Both series of notes will mature on the ten year anniversary of their issuance.

Proceeds from the financing will be used to pay down outstanding amounts on the company’s $600 million revolving credit facility and for redevelopment projects and general corporate purposes.

Matthew Ostrower, Chief Financial Officer of Equity One, commented, "We are pleased with the support shown by high quality, long-term institutional investors in this private placement and the opportunity to issue unsecured debt on attractive terms. The pricing we received on these two series of notes represents spreads of 220 and 230 basis points above the 10-Year Treasury yield on the date of pricing which was very compelling compared to pricing available in the public bond market at the time."

The Senior Unsecured Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Act") or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act and applicable state securities laws. This press release is for information only, 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 of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT EQUITY ONE, INC.

As of December 31, 2015, the company’s portfolio comprised 126 properties, including 102 retail properties and five non-retail properties totaling approximately 12.6 million square feet of gross leasable area, or GLA, 13 development or redevelopment properties with approximately 2.8 million square feet of GLA, and six land parcels. As of December 31, 2015, the company’s retail occupancy excluding developments and redevelopments was 96.0% and included national, regional and local tenants. Additionally, the company had joint venture interests in six retail properties and two office buildings totaling approximately 1.4 million square feet of GLA.

FORWARD-LOOKING STATEMENTS

Certain matters discussed by Equity One in this press release constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “will,” “might,” “would,” “expect,” “anticipate,” “estimate,” “could,” “should,” “believe,” “intend,” “project,” “forecast,” “target,” “plan,” or “continue” or the negative of these words or other variations or comparable terminology. Although Equity One believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that these expectations will be achieved. Risks and uncertainties that may cause Equity One’s actual results, performance or achievements to materially differ from the expectations expressed in our forward-looking statements include a failure to satisfy one or more closing conditions applicable to the described financing; the failure of one or more investors to fund their financing commitments; and other risks which are described in Equity One’s filings with the Securities and Exchange Commission. Equity One undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.

Contacts

Equity One, Inc.
Matthew Ostrower, 212-796-1760
EVP and Chief Financial Officer

Release Summary

Equity One Agrees to Sell $200 Million of Senior Unsecured Notes Due 2026

Contacts

Equity One, Inc.
Matthew Ostrower, 212-796-1760
EVP and Chief Financial Officer