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Kite Realty to repay term loan with proceeds from new notes
By Mary Katherine Stinson
Lexington, Ky., Jan. 12 – Kite Realty Group LP plans to use the proceeds from an offering of senior notes to repay the company’s $120 million unsecured term loan with a maturity date of July 17, 2024, according to a 424B5 filed with the Securities and Exchange Commission.
As of Sept. 30, the term loan’s variable interest rate has been swapped to a fixed rate of 1.58% plus a credit spread based on a ratings grid ranging from 80 basis points to 165 bps through July 17, 2024. The applicable credit spread was 110 bps as of Sept. 30.
Kite Realty is an Indianapolis-based retail focused real estate investment trust.
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