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Provider: Thomson Reuters Stock Report
Provider: Plunkett Research, Ltd.
Provider: MacroRisk Analytics/EconomicInvestor
Provider: MacroRisk Analytics/EconomicInvestor

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Kite Realty Group Trust Announces Launch of Common Share Offering

Monday, 8 Apr 2013 04:04pm EDT 

Kite Realty Group Trust announced that it has commenced an underwritten public offering of 12,500,000 common shares of beneficial interest. BofA Merrill Lynch, KeyBanc Capital Markets, Citigroup and Wells Fargo Securities will be serving as the joint book-running managers for this offering. The underwriters will be granted a 30-day option to purchase up to an additional 1,875,000 common shares of beneficial interest. The Company intends to use a portion of the net proceeds from this offering initially to repay approximately $62.2 million of outstanding indebtedness under the Company`s revolving credit facility and the remainder for the acquisition of properties. Such net proceeds that initially are used to repay outstanding indebtedness under the revolving credit facility are expected to be redeployed for other general corporate purposes, including the acquisition of properties and funding development costs. 

Company Quote

-0.06 -0.94%
21 Jul 2014