Rouse Properties to pay down secured revolver via stock offering

By Tali Rackner

Minneapolis, Jan. 6 - Rouse Properties, Inc. plans to repay debt incurred under its secured revolving credit facility with the proceeds from a common stock offering, according to a press release.

The revolver debt was incurred primarily in connection with the company's acquisition in December of two enclosed regional malls from some affiliates of Macerich Co.

Proceeds will also be used for general corporate purposes, including future acquisitions, working capital and other needs.

Rouse is a New York-based regional mall owner.

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