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


07/20/2020