Retail Opportunity to sell senior notes via four bookrunners

By Mary-Katherine Stinson

Lexington, Ky., Sept. 14 – Retail Opportunity Investments Partnership LP is eyeing a senior note offering, according to a 424B5 filing with the Securities and Exchange Commission.

There is a make-whole call at the company’s option, followed by a par call.

The notes will be fully and unconditionally guaranteed by Retail Opportunity Investments Corp.

J.P. Morgan Securities LLC, BofA Securities, Inc., PNC Capital Markets LLC and Wells Fargo Securities, LLC are the joint bookrunners.

Clifford Chance US LLP and Venable LLP (Maryland law) will advise the issuer. Sidley Austin LLP will act as legal counsel for the underwriters.

Computershare Trust Co., NA is the trustee.

The operating partnership intends to use the net proceeds from this offering for debt repayment, which may include the company’s 5% senior notes due 2023, of which $250 million were outstanding as of June 30, and borrowings under the company’s $300 million unsecured term loan and $600 million unsecured revolving credit facility, of which $63 million is outstanding as of June 30, and for general corporate purposes.

San Diego-based Retail Opportunity is a self-managed real estate investment trust focusing on the acquisition, ownership and management of necessity-based community and neighborhood shopping centers that are anchored by national or regional supermarkets and drugstores.

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