Retail Properties of America (RPAI) to issue $100 million senior notes due 2025.
Retail Properties of America (RPAI) announced today that it has priced an additional $100 million of its 4.00% senior unsecured notes due 2025. The current offering represents a reopening of RPAI's existing 2025 bond, bringing the total amount of the issue to $350 million. The incremental $100 million was priced at +395 to the treasury curve. The company said that proceeds would be used to reduce borrowings under its revolving credit agreement.
Retail Properties is a small-cap equity REIT with an owned portfolio of 102 community and lifestyle shopping center properties located in major markets across the U.S. RPAI has a total market capitalization of approximately $3.6 billion and was recently added to the S&P SmallCap 600 index
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Retail Properties is a small-cap equity REIT with an owned portfolio of 102 community and lifestyle shopping center properties located in major markets across the U.S. RPAI has a total market capitalization of approximately $3.6 billion and was recently added to the S&P SmallCap 600 index
07/20/2020