Kite Realty Group Trust to repay term loan with preferred shares

By Sara Rosenberg

New York, Nov. 29 - Kite Realty Group Trust plans on repaying its unsecured term loan in full using proceeds from a series A cumulative redeemable perpetual preferred shares offering, according to a 424B5 filing with the Securities and Exchange Commission on Monday.

Other funds for the repayment may come from cash on hand and revolver borrowings.

Any remaining proceeds will be used for working capital and general corporate purposes.

Kite Realty is an Indianapolis-based real estate investment trust engaged in the acquisition, development, expansion, construction, ownership, leasing, operation, and management of neighborhood and community shopping centers and commercial real estate properties.

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