Regency Centers, L.P., the operating partnership of Regency Centers Corporation, priced a $400 million public offering of senior unsecured notes due 2032. The notes were issued at 99.279% of par value with a coupon of 5.00%.
Interest on the notes will be payable semiannually on January 15 and July 15, with the first payment due on January 15, 2026. Regency Centers will guarantee the payment of principal and interest on these notes.
The company intends to use the net proceeds to reduce the outstanding balance on its line of credit and for the repayment of $250 million aggregate principal amount of 3.90% notes due November 1, 2025. The offering also provides capital for general corporate purposes, including future repayment of other outstanding debt, with settlement expected on May 13, 2025.
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