Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for Kilroy Realty Corp. > News item |
Kilroy Realty may use offering proceeds to pay down revolver
By Tali David
Minneapolis, Aug. 6 - Kilroy Realty Corp. plans to use the proceeds from its preferred stock offering to redeem all of its operating partnership's series A preferred units, and any remaining net proceeds will be used for general corporate purposes, including repaying borrowings under the operating partnership's revolving credit facility, according to a 424B5 filed with the Securities and Exchange Commission.
The redemption price for the series A preferred units is $75 million plus accrued dividends.
As of Aug. 3, $240 million of borrowings were outstanding under the revolver.
Kilroy is a Los Angeles-based real estate investment trust active in West Coast office and industrial submarkets.
© 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.