Equity One to pay down revolver with stock offering proceeds

By Tali David

Minneapolis, Aug. 8 - Equity One, Inc. plans to use the proceeds of its common stock offering to reduce the outstanding balance under its unsecured revolving credit facility, according to a press release.

The company said it will also use the proceeds for other corporate purposes, including pending and future acquisitions and to fund development and redevelopment activities.

Equity One is a North Miami Beach. Fla.-based owner, developer and operator of shopping centers.

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