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NORTH MIAMI BEACH, FL-Equity One Inc. has priced the sale of a $120-million principal amount of its 5.375% senior unsecured notes due Oct. 15, 2015. The notes are offered at a price of 99.488% with a yield to maturity of 5.441%, or a spread at the time of pricing of 1.3% to the Aug. 15, 2015 Treasury note. The sale is set to close on Sept. 20.

Moody’s Investors Services rates all the securities in the offering at Baa3, and their rating by Standard & Poor’s is BBB-. Deutsche Bank Securities Inc., JP Morgan Securities Inc., and UBS Securities LLC are joint book-running managers. The co-managers are Commerica Securities Inc.; Merrill Lynch, Pierce, Fenner & Smith Inc.; PNC Capital Markets Inc.; SunTrust Capital Markets Inc., and Wells Fargo Securities LLC.

Equity One officials declined to comment on the sale. The locally based shopping center REIT will use the net proceeds of the offering to repay debt under its unsecured revolving credit facility and for other general corporate purposes. Its current portfolio aggregates 19.5 million sf and consists of 189 properties. They include 127 supermarket-anchored shopping centers, seven drug store-anchored centers, 45 retail-anchored centers, seven development parcels and three commercial properties along with a non-controlling interest in an unconsolidated joint venture. The overwhelming majority of its assets are in the Southern US and in the Boston area.

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