Regency Centers will redeem 6% series 7 preferreds on Aug. 23

By Wendy Van Sickle

Columbus, Ohio, July 13 – Regency Centers Corp. set Aug. 23 as the date it will redeem all $75 million of its outstanding 6% series 7 cumulative redeemable preferred shares, according to a press release.

The redemption price will be $25.22083 per share, which equals par of $25.00 plus accrued dividends to, but excluding, the redemption date. The total being paid to effect the redemption is $75,662,490.

The first call date for the preferreds is Aug 23.

Broadridge Corporate Issuer Solutions, Inc. is the redemption and paying agent.

Regency announced in June that it planned to redeem the preferreds using some proceeds from an offering of new notes in two tranches.

Regency Centers priced a $175 million add-on to the 3.6% notes due 2027 and a $125 million add-on to the 4.4% notes due 2047 issued by Regency Centers, LP on June 27.

Regency Centers is a Jacksonville, Fla., real estate investment trust that owns retail shopping centers.

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