Regency Centers Corporation (“Regency,” “Regency Centers,” or the
“Company”) (Nasdaq: REG) announced today that its operating
partnership, Regency Centers, L.P., has priced a $325 million
public offering of senior unsecured notes due 2035 (the “Notes”)
under its existing shelf registration filed with the U.S.
Securities and Exchange Commission (the “SEC”). The Notes will
mature on January 15, 2035, and were issued at 99.813% of par value
with a coupon of 5.100%. Interest on the Notes will be payable
semiannually on January 15 and July 15 of each year, with the first
payment due and payable on January 15, 2025. The Company will
guarantee the payment of principal and interest on the Notes.
Regency intends to use the net proceeds of the
offering to reduce the outstanding balance on its line of credit
and for general corporate purposes, including, but not limited to,
the future repayment of outstanding debt. Settlement of the
offering is subject to the satisfaction of customary closing
conditions and is expected to occur on August 15, 2024.
J.P. Morgan Securities LLC, BofA Securities,
Inc., PNC Capital Markets LLC, Wells Fargo Securities, LLC, Mizuho
Securities USA LLC, Truist Securities, Inc. and U.S. Bancorp
Investments, Inc. are acting as joint book-running managers. BMO
Capital Markets Corp., BNY Mellon Capital Markets, LLC, RBC Capital
Markets, LLC, Regions Securities LLC, Scotia Capital (USA) Inc. and
TD Securities (USA) LLC are acting as senior co-managers.
Regency Centers, L.P. has filed a registration
statement (including a prospectus and related prospectus
supplement) with the SEC with respect to the offering of the Notes.
Before you invest, you should read the prospectus in that
registration statement and the prospectus supplement for the
offering, as well as the other documents Regency Centers, L.P. has
filed with the SEC for more complete information about Regency
Centers, L.P. and the offering. You may obtain these documents for
free by visiting EDGAR on the SEC website at http://www.sec.gov.
Alternatively, by calling J.P. Morgan Securities LLC at
1-212-834-4533, BofA Securities, Inc. at 1-800-294-1322, PNC
Capital Markets LLC at 1-855-881-0697, or Wells Fargo Securities,
LLC at 1-800-645-3751, such underwriter will arrange to send you
the registration statement, prospectus and the related prospectus
supplement upon your request.
This press release 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 in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Regency Centers Corporation
(Nasdaq: REG)
Regency Centers is a preeminent national owner,
operator, and developer of shopping centers located in suburban
trade areas with compelling demographics. Our portfolio includes
thriving properties merchandised with highly productive grocers,
restaurants, service providers, and best-in-class retailers that
connect to their neighborhoods, communities, and customers.
Operating as a fully integrated real estate company, Regency
Centers is a qualified real estate investment trust (REIT) that is
self-administered, self-managed, and an S&P 500 Index
member.
Forward-Looking Statements
Certain statements in this document regarding
anticipated financial, business, legal or other outcomes including
business and market conditions, outlook and other similar
statements relating to Regency's future events, developments, or
financial or operational performance or results, are
“forward-looking statements” made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and other federal securities laws. These forward-looking statements
are identified by the use of words such as “may,” “will,” “could,”
“should,” “would,” “expect,” “estimate,” “believe,” “intend,”
“forecast,” “project,” “plan,” “anticipate,” “guidance,” and other
similar language. However, the absence of these or similar words or
expressions does not mean a statement is not forward-looking. While
we believe these forward-looking statements are reasonable when
made, forward-looking statements are not guarantees of future
performance or events and undue reliance should not be placed on
these statements. Although we believe the expectations reflected in
any forward-looking statements are based on reasonable assumptions,
we can give no assurance these expectations will be attained, and
it is possible actual results may differ materially from those
indicated by these forward-looking statements due to a variety of
risks and uncertainties.
Our operations are subject to a number of risks
and uncertainties including, but not limited to, risk factors
described in our SEC filings, including, without limitation, our
Annual Report on Form 10-K for the year ended December 31, 2023
(“2023 Form 10-K”) under Item 1A. “Risk Factors” and in Part II,
Item 1A. “Risk Factors” in subsequent Quarterly Reports on Form
10-Q. When considering an investment in our securities, you should
carefully read and consider these risks, together with all other
information in our 2023 Form 10-K, subsequent Quarterly Reports on
Form 10-Q and our other filings with and submissions to the SEC. If
any of the events described in such risk factors actually occur,
our business, financial condition or operating results, as well as
the market price of our securities, could be materially adversely
affected. Forward-looking statements are only as of the date they
are made, and Regency undertakes no duty to update its
forward-looking statements, whether as a result of new information,
future events, or developments otherwise, except as and to the
extent required by law.
Christy McElroy904 598
7616ChristyMcElroy@regencycenters.com
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