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Weingarten holders tender $319.69 million 3.95% convertibles due 2026
By Susanna Moon
Chicago, July 14 - Weingarten Realty Investors said investors tendered $319,686,000 of its 3.95% convertible senior unsecured notes due Aug. 1, 2026.
The offer expired at midnight ET on July 13. The payment date is July 16.
The tendered notes represent 70.27% of the company's $454,921,000 of 3.95% convertibles.
Weingarten said on June 29 that it increased the maximum tender amount for notes by $77,945,000 for a new total of $325 million.
As of midnight on June 26, investors had tendered $317,525,000, or 69.8%, of the notes.
As previously noted, holders will receive $950 for each $1,000 note.
On June 9, Weingarten wrapped a separate tender offer for seven series of non-convertible notes.
In that offer, holders tendered $82.33 million of the $200 million of 7% senior unsecured notes due July 15, 2011, $10,000 of the $12 million of 7.07% medium-term notes due June 26, 2009, none of the $20 million of 7.35% medium-term notes due July 20, 2009, none of the $10 million of 7.4% medium-term notes due Dec. 21, 2010, $5,035,000 of the $15 million of 7.44% medium-term notes due Aug. 19, 2011, $14.07 million of the $15 million of 7.5% medium-term notes due Dec. 19, 2010 and $1.5 million of the $10.5 million of 8.25% medium-term notes due Jan. 22, 2010.
Holders received par for each $1,000 principal amount of the notes.
Weingarten previously said $247,055,000 was available to purchase a portion of its 3.95% convertibles.
J.P. Morgan Securities Inc. (866 834-4666 or collect 212 834-3424) is the dealer manager.
Global Bondholder Services Corp. (866 470-4200 or collect 212 430-3774) is the information agent.
Weingarten is a Houston-based real estate investment trust.
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