New Plan Excel Realty Trust Announces Offering of $100 Million of Ten-Year Senior Unsecured Notes
January 10 2005 - 5:09PM
PR Newswire (US)
New Plan Excel Realty Trust Announces Offering of $100 Million of
Ten-Year Senior Unsecured Notes NEW YORK, Jan. 10
/PRNewswire-FirstCall/ -- New Plan Excel Realty Trust, Inc.
(NYSE:NXL) today announced that it has priced an issuance of $100
million of unsecured, 10-year fixed rate notes with a coupon of
5.30 percent. The notes were priced at 99.930 percent of par value
to yield 5.309 percent. The notes are scheduled to settle on
January 13, 2005, are due January 15, 2015, and are non-amortizing.
Net proceeds from the offering will be used to repay a portion of
the borrowings under the Company's $350 million revolving credit
facility. Banc of America Securities LLC and Citigroup Global
Markets Inc. served as joint book-running managers for the
transaction. The co-managers were KeyBanc Capital Markets, UBS
Securities LLC and Wachovia Capital Markets, LLC. This
communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities 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. Copies of the prospectus relating to this
offering, when available, may be obtained from Banc of America
Securities LLC, Prospectus Department, 100 West 33rd Street, 3rd
Floor, NY1-509-03-22, New York, NY 10001 (telephone 646-733-4166).
New Plan Excel Realty Trust, Inc. is one of the nation's largest
real estate companies, focusing on the ownership and management of
community and neighborhood shopping centers. The Company operates
as a self-administered and self-managed REIT, with a national
portfolio of 403 properties, including 24 properties held through
joint ventures, and total assets of approximately $3.8 billion. Its
properties are strategically located across 35 states and include
381 community and neighborhood shopping centers, primarily grocery
or name-brand discount chain anchored, with approximately 55.6
million square feet of gross leasable area, and 22 related retail
real estate assets, with approximately 1.8 million square feet of
gross leasable area. For additional information, please visit
http://www.newplan.com/. Certain statements in this release that
are not historical fact may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results of the Company to differ materially from historical results
or from any results expressed or implied by such forward-looking
statements, including without limitation: national and local
economic, business, real estate and other market conditions; the
competitive environment in which the Company operates; financing
risks; possible future downgrades in our credit ratings; property
ownership / management risks; the level and volatility of interest
rates; financial stability of tenants; the Company's ability to
maintain its status as a REIT for federal income tax purposes;
acquisition, disposition, development and joint venture risks,
including risks that developments and redevelopments are not
completed on time or on budget and strategies, actions and
performance of affiliates that the Company may not control;
potential environmental and other liabilities; and other factors
affecting the real estate industry generally. The Company refers
you to the documents filed by the Company from time to time with
the Securities and Exchange Commission, specifically the section
titled "Business-Risk Factors" in the Company's Annual Report on
Form 10-K for the year ended December 31, 2003, which discuss these
and other factors that could adversely affect the Company's
results. DATASOURCE: New Plan Excel Realty Trust, Inc. CONTACT:
Stacy Lipschitz-Slater, Senior Vice President - Corporate
Communications of New Plan Excel Realty Trust, Inc.,
+1-212-869-3000 ext. 3359 Web site: http://www.newplanexcel.com/
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