Proceeds will be used to repay debt under revolving credit facility
By Devika Patel
Knoxville, Tenn., June 30 – Kilroy Realty Corp. plans a $249.79 million direct placement of shares, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company will sell 3,773,766 common shares at $66.18971 per share. The price per share is a 1.61% discount to the June 29 closing share price of $67.27.
Settlement is expected July 1.
Proceeds will be used to repay debt under the operating partnership’s revolving credit facility and for other general corporate purposes.
The real estate investment trust is based in Los Angeles.
| Issuer: | Kilroy Realty Corp.
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| Issue: | Common shares
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| Amount: | $249,784,477
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| Shares: | 3,773,766
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| Price: | $66.18971
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| Warrants: | No
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| Pricing date: | June 30
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| Settlement date: | July 1
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| Stock symbol: | NYSE: KRC
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| Stock price: | $67.27 at close June 29
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| Market capitalization: | $5.93 billion
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