Kilroy Realty might use stock offering proceeds to repay bank debt

By Angela McDaniels

Tacoma, Wash., Jan. 4 – Kilroy Realty Corp. might use proceeds of its $280.1 million offering of common stock to repay bank debt, according to a company news release.

The company said it plans to use the proceeds for general corporate purposes, which may include partially funding a special cash dividend, funding development projects, acquiring land and properties and repaying outstanding debt, which may include borrowings, if any, under the operating partnership’s revolving credit facility and borrowings under the operating partnership’s term loan facilities.

Kilroy is a real estate investment trust based in Los Angeles.

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