By Andrea Heisinger
Omaha, June 3 - Weingarten Realty Investors reopened its 6.5% cumulative redeemable preferred shares to add $150 million, or 6 million shares, according to an FWP Securities and Exchange Commission filing.
The $25 par perpetual shares priced at $20.10 and are non-callable until Jan. 30, 2012.
Proceeds were $120.6 million.
The issue size is now $350 million, or 14 million shares, including $200 million, or 8 million, issued on Jan. 30, 2007.
Wachovia Capital Markets is bookrunner.
Proceeds will be used to reduce the amounts outstanding under the company's credit facilities. Pending this, they will be used to deposit in interest-bearing accounts or certificates of deposit, government obligations or other short-term investments.
The real estate investment trust is based in Houston.
Issuer: | Weingarten Realty Investors
|
Issue: | Cumulative redeemable preferred shares
|
Amount: | $150 million liquidation preference, 6 million shares with par of $25
|
Proceeds: | $120.6 million
|
Maturity: | Perpetual
|
Dividend: | 6.5%
|
Price: | $20.10
|
Call: | On or after Jan. 30, 2012
|
Trade date: | June 3, including accrued dividends from March 17
|
Settlement date: | June 6
|
Total issue size: | $350 million (14 million shares) including $200 million (8 million shares) issued Jan. 30, 2007
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.