Equity One to repay revolving credit facility via senior note proceeds

By Tali Rackner

Norfolk, Va., April 25 – Equity One, Inc. plans to pay down outstanding amounts on its $600 million revolving credit facility with the proceeds from a $200 million senior notes private placement, according to a press release.

Proceeds will also be used for redevelopment projects and general corporate purposes.

The company expects to issue $100 million principal amount of 3.81% series A senior notes in May and $100 million principal amount of 3.91% series B senior notes by August. Both series of notes will mature on the 10-year anniversary of their issuance.

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

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