HOUSTON--(BUSINESS WIRE)--Weingarten Realty Investors (NYSE: WRI) announced today the pricing of $250 million of 3.250% Notes due 2026 (the “Notes") in an underwritten public offering. The Notes were offered at 99.155% of the principal amount with a yield to maturity of 3.350%. The offering is scheduled to close on August 11, 2016, subject to customary closing conditions.
Weingarten intends to use the net proceeds to repay a portion of the amount outstanding under its $500 million unsecured revolving credit facility.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, Regions Securities LLC, and U.S. Bancorp Investments, Inc. served as joint book-running managers. BB&T Capital Markets, a division of BB&T Securities, LLC, Capital One Securities, Inc., Jefferies LLC, and Scotia Capital (USA) Inc. served as co-managers for the offering.
The offering of the Notes is being made pursuant to an effective registration statement filed with the Securities and Exchange Commission (“SEC”). The offering of the Notes will be made only by means of a prospectus supplement and the accompanying prospectus. Copies of these documents may be obtained by calling Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322, J.P. Morgan Securities LLC collect at (212) 834-4533, Regions Securities LLC collect at (404) 279-7400 or U.S. Bancorp Investments, Inc. toll-free at 1-877-558-2607. These documents will also be available on the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of any offer to buy such securities nor shall there be any sale in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Weingarten Realty Investors
Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At June 30, 2016, the Company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 226 properties which are located in 18 states spanning the country from coast to coast. These properties represent approximately 44.7 million square feet of which our interests in these properties aggregated approximately 28.0 million square feet of leasable area.
Forward-Looking Statements
Statements included herein that state the Company’s or Management’s intentions, hopes, beliefs, expectations or predictions of the future are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 which by their nature, involve known and unknown risks and uncertainties. The Company’s actual results, performance or achievements could differ materially from those expressed or implied by such statements. Reference is made to the Company’s regulatory filings with the Securities and Exchange Commission for information or factors that may impact the Company’s performance.
