Regency Centers Corp.'s operating partnership priced a $300 million offering of 4.125% senior notes due March 15, 2028, at 99.837%.
Regency Centers plans to use the proceeds from the offering to entirely repay its $150 million of 6.0% notes due June 15, 2020, repay roughly $115 million in 2018 mortgage maturities, reduce the company's outstanding balance on its line of credit, and for general corporate purposes.
J.P. Morgan Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc., Wells Fargo Securities LLC, Mizuho Securities USA LLC and U.S. Bancorp Investments Inc. are acting as joint book-running managers on the offering.
PNC Capital Markets LLC, Regions Securities LLC and SunTrust Robinson Humphrey Inc. are acting as senior co-managers, with BB&T Capital Markets, BMO Capital Markets Corp, Comerica Securities Inc., RBC Capital Markets LLC, SMBC Nikko Securities America Inc., and TD Securities LLC acting as co-managers.
