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Retail Properties of America announces $200M senior notes private placement

Retail Properties of America Inc. agreed to sell $200.0 million of two-series of senior unsecured notes in a private placement.

The notes comprise $100.0 million aggregate principal amount each of its 4.08% series A senior notes due Sept. 30, 2026, and its 4.24% series B senior notes due Dec. 28, 2028. Interest for the series A and B notes is payable semiannually every March 30 and Sept. 30, and every June 28 and Dec. 28, respectively, starting in 2017.

The series A notes issuance closed Sept. 30, and the series B notes sale is anticipated to close Dec. 28.

The company will use the net proceeds to repay or refinance its outstanding debt and for general corporate purposes.