New Issue: Weingarten Realty Investors sells $250 million 3.25% 10-year notes at 183 bps spread

By Cristal Cody

Eureka Springs, Ark., Aug. 3 – Weingarten Realty Investors sold $250 million of 3.25% 10-year notes at 99.155, according to a market source and a 424B5 filing with the Securities and Exchange Commission.

The notes (Baa1/BBB) priced with a spread of 183 basis points over Treasuries, on the tight side of talk of 185 bps, plus or minus 2 bps.

BofA Merrill Lynch, J.P. Morgan Securities LLC, Regions Securities LLC and U.S. Bancorp Investments Inc. were the bookrunners.

Proceeds are expected to be used to repay a portion of the amount outstanding under the company’s $500 million unsecured revolving credit facility.

Weingarten is a Houston-based shopping center owner, manager and developer.

Issuer:	Weingarten Realty Investors
Amount:	$250 million
Description:	Notes
Maturity:	Aug. 15, 2026
Bookrunners:	BofA Merrill Lynch, J.P. Morgan Securities LLC, Regions Securities LLC, U.S. Bancorp Investments Inc.
Co-managers:	BB&T Capital Markets, Capital One Securities, Jefferies LLC, Scotia Capital (USA) Inc.
Coupon:	3.25%
Price:	99.155
Spread:	Treasuries plus 183 bps
Trade date:	Aug. 2
Settlement date:	Aug. 11
Call feature:	Make-whole call before May 15, 2026 at greater of par and Treasuries plus 30 bps; on or after May 15, 2026 at par
Ratings:	Moody’s: Baa1
	S&P: BBB
Distribution:	SEC registered
Price guidance:	Treasuries plus 185 bps, plus or minus 2 bps

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