NEW YORK--(BUSINESS WIRE)--Equity One, Inc. (NYSE: EQY), an owner, developer, and operator of shopping centers, announced today that it is calling for redemption all of its 5.375% senior notes due October 2015 (the “5.375% Notes”), in an aggregate outstanding principal amount of $107.5 million, with a redemption date of April 23, 2015. The CUSIP number for the 5.375% Notes is 294752 AB6. Upon redemption, holders of the 5.375% Notes being redeemed will receive $1,025.4569 per $1,000 principal amount of the 5.375% Notes, which includes accrued and unpaid interest on the 5.375% Notes being redeemed to, but excluding, the redemption date, and the make-whole premium applicable to the 5.375% Notes. The redemption will be funded by the proceeds from Equity One’s public offering and concurrent private placement of shares of common stock which closed today.
A Notice of Redemption is being mailed to all registered holders of the 5.375% Notes. Copies of the Notice of Redemption may be obtained from U.S. Bank National Association, the paying agent, by calling 800-934-6802.
ABOUT EQUITY ONE, INC.
As of December 31, 2014, the Company’s consolidated shopping center portfolio comprised 122 properties, including 102 retail properties and five non-retail properties totaling approximately 13.5 million square feet of gross leasable area, or GLA, nine development or redevelopment properties with approximately 1.6 million square feet of GLA upon completion, and six land parcels. As of December 31, 2014, the Company’s consolidated shopping center occupancy was 95.0% and included national, regional and local tenants. Additionally, the Company had joint venture interests in 18 retail properties and two office buildings totaling approximately 3.2 million square feet of GLA.