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Regency Centers Sells $250 Million “Green Bonds” Due 2024

Stocks in this article: REG

Regency Centers Corporation (“Regency” or the “Company") (NYSE:REG) announced today that its operating partnership, Regency Centers, L.P., completed the sale of $250 million of 3.75% ten-year senior unsecured notes under the Company’s existing shelf registration statement. The notes are due June 15, 2024 and were priced at 99.482%. Interest on the notes will be payable semiannually on June 15th and December 15th of each year, beginning on December 15, 2014. Net proceeds will be used to fund, in whole or in part, Eligible Green Projects (as defined in the prospectus supplement dated May 13, 2014) including the acquisition, construction, development or redevelopment of these projects.

Together with this transaction, Regency settled a portion of its forward starting interest rate swaps (the “Swaps”), which were designed to mitigate its exposure to base treasury rates for its 2014 planned issuance. The Company will recognize interest expense at an effective rate of 3.60%. Regency’s Swaps for its 2015 planned issuance remain outstanding.

Regency views this issuance as an opportunity to support an important market as investors seek more socially responsible investment options. This placement also confirms Regency’s commitment and long-term view on sustainability, as evidenced by its market-leading greengenuity ® program, which is the Company’s commitment to do all that is practical to reduce its environmental impact in developing and operating shopping centers.

Wells Fargo Securities, LLC; Merrill Lynch, Pierce, Fenner & Smith Incorporated; J.P. Morgan Securities LLC; and US Bancorp Investments, Inc. acted as joint book-running managers for the transaction. In addition Merrill Lynch, Pierce, Fenner and Smith Incorporated acted as structuring agent. The co-managers for the offering were Comerica Securities; Mitsubishi UFJ Securities (USA) Inc.; Mizuho Securities USA Inc.; PNC Capital Markets LLC; RBC Capital Markets, Inc.; Regions Securities LLC; SMBC Nikko Securities America, Inc.; and SunTrust Robinson Humphrey Inc.

A copy of the prospectus supplement and accompanying prospectus meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained by contacting the underwriters at Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, Attention: Capital Markets Client Support, toll-free: (800) 326-5897 or email: cmclientsupport@wellsfargo.com or Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, email: dg.prospectus_requests@baml.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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