Kite Realty to pay down revolving credit facility via share offering

By Tali David

Minneapolis, Oct. 16 - Kite Realty Group Trust plans to contribute the proceeds of its common share offering to its operating partnership, which intends to use the funds to repay outstanding debt under its revolving credit facility, according to a 424B5 filed with the Securities and Exchange Commission.

Remaining proceeds may be redeployed for other general corporate purposes, including the acquisition of properties and redevelopment costs, the filing said.

Kite Realty is an Indianapolis-based real estate investment trust focused on neighborhood and community shopping centers.

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