Weingarten Realty Investors (NYSE: WRI) announced today the pricing of $250 million of 3.850% Notes due 2025 (the “Notes") in an underwritten public offering. The Notes were offered at 99.233% of the principal amount with a yield to maturity of 3.943%. The offering is scheduled to close on May 14, 2015, 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.
Wells Fargo Securities, LLC, Jefferies LLC, J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated served as joint book-running managers. U.S. Bancorp Investments, Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., Regions Securities LLC, SMBC Nikko Securities America, Inc., BB&T Capital Markets, a division of BB&T Securities, LLC, and The Williams Capital Group, L.P. 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 Wells Fargo Securities, LLC toll-free at (800) 645-3751, Jefferies LLC toll-free at (877) 877-0696, J.P. Morgan Securities LLC collect at (212) 834-4533 or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at (800) 294-1322. 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 March 31, 2015, 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 235 properties which are located in 20 states spanning the country from coast to coast. These properties represent approximately 45.3 million square feet of which our interests in these properties aggregated approximately 27.9 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.
Contacts:
Michelle Wiggs, (713) 866-6050
