S&P gives Kilroy notes BBB-

Standard & Poor's said it assigned its BBB- rating to the $250 million of 6.625% senior unsecured notes due 2020 issued by Kilroy Realty LP, a subsidiary of Kilroy Realty Corp.

According to the agency, the new notes will rank pari passu with the company's existing senior unsecured debt and will be governed by traditional REIT covenants.

Kilroy intends to use the proceeds to fund a tender offer for any and all of its $298 million of 3.25% exchangeable senior notes, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.