Kite Realty Group Trust (NYSE: KRG) (the “Company”) announced today that it has commenced an underwritten public offering of 9,500,000 common shares of beneficial interest. The book-running managers for this offering are BofA Merrill Lynch, Citigroup, KeyBanc Capital Markets and Raymond James, and the lead manager is Wells Fargo Securities. The underwriters will be granted a 30-day option to purchase up to an additional 1,425,000 common shares of beneficial interest.
The Company intends to use all of the net proceeds from this offering to repay amounts outstanding under its revolving credit facility. Such net proceeds may be redeployed for other general corporate purposes, including the acquisition of properties and redevelopment costs.
The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission, which became effective on January 11, 2012. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. The offering may be made only by means of a prospectus and related prospectus supplement. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to these securities may be obtained from BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attn: Prospectus Department, or by email at email@example.com; from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; Tel: 800-831-9146; email: firstname.lastname@example.org; from KeyBanc Capital Markets, Attention: Prospectus Delivery Department, 127 Public Square, 4th Floor, Cleveland, Ohio 44114; from Raymond James, 880 Carillon Parkway, St. Petersburg, Florida 33716, or by calling toll-free at 1-800-248-8863, or emailing email@example.com; and from Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York, 10152, at (800) 326-5897 or by emailing a request to firstname.lastname@example.org.About Kite Realty Group Trust Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust engaged in the ownership, operation, management, leasing, acquisition, construction, redevelopment and development of neighborhood and community shopping centers in selected markets in the United States. At June 30, 2012, the Company owned interests in a portfolio of 62 operating and redevelopment properties totaling approximately 9.3 million square feet and an additional four properties currently under in-process development totaling 0.7 million square feet.