HOUSTON-Weingarten Realty Investors has announced the pricing of $300 million of 3.5% notes, due in 2023. The notes, available in an underwritten public offering, were offered at 99.528% of the principal amount with a yield to maturity of 3.556%.
The offering is scheduled to close on March 22, 2013, subject to customary closing conditions. Weingarten intends to use the net proceeds of the offering to repay amounts outstanding under its unsecured revolving credit facility and general business purposes.
Merrill Lynch, Pierce, Fenner & Smith Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC served as joint book-running managers. Regions Securities LLC, PNC Capital Markets LLC, Scotia Capital (USA) Inc., The Williams Capital Group LP and SMBC Nikko Capital Markets Limited served as co-managers for the offering.
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