Retail Opportunity to repay revolver, term loan via new note proceeds

By Tali Rackner

Norfolk, Va., Nov. 18 – Retail Opportunity Investments Partnership, LP plans to use the proceeds from a senior note offering to repay outstanding borrowings under its unsecured revolving credit facility and/or its unsecured term loan, according to a 424B5 filing with the Securities and Exchange Commission.

As of Sept. 30, there was about $123.3 million outstanding under the revolver and $200 million outstanding under the term loan.

Proceeds will also be used 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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