Kite Realty to pay down $200 million term loans via new notes issue

By Susanna Moon

Chicago, Sept. 15 – Kite Realty Group, LP plans to pay off its $200 million term loan A due July 1, 2019 with proceeds of a new issue of notes, according to a 424B5 filing with the Securities and Exchange Commission.

Proceeds also will be used for general corporate purposes, which may include repaying debt under the company’s unsecured revolving facility and other outstanding debt, acquisitions of additional properties, capital expenditures, the expansion, redevelopment and/or improvement of properties in its portfolio, working capital and other general purposes.

As of Sept. 14, the company had about $63.7 million of outstanding debt under its unsecured revolving facility and $600 million of outstanding debt under its unsecured term loans.

Kite Realty is an Indianapolis-based real estate investment trust focused on neighborhood and community shopping centers.

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