Weingarten solicits consents for several notes series

By Jennifer Chiou

New York, Sept. 26 - Weingarten Realty Investors announced the start of a consent solicitation for the following notes series:

• $2 million of 6.47% notes due 2008 (consent fee of $1.00 per $1,000 principal amount);

• $15 million of 7.39% notes due 2008 ($1.00);

• $7 million of 6.5% notes due 2008 ($1.00);

• $12 million of 6.9% notes due 2008 ($1.00);

• $12 million of 7.07% notes due 2009 ($1.00);

• $20 million of 7.35% notes due 2009 ($1.00);

• $10,500,000 8.25% notes due 2010 ($2.00);

• $15 million of 4.48% notes due 2010 ($2.00);

• $15 million of 7.5% notes due 2010 ($2.00);

• $10 million of 7.4% notes due 2010 ($2.00);

• $200 million of 7% notes due 2011 ($3.25);

• $15 million of 7.44% notes due 2011 ($3.25);

• $125 million of 5.263% notes due 2012 ($3.50);

• $10 million of 5.996% notes due 2012 ($3.50);

• $10 million of 3% notes due 2012 ($3.50);

• $5 million of 5.4% notes due 2012 ($3.50);

• $5 million of 5.5% notes due 2012 ($3.50);

• $32 million of 5.675% notes due 2012 ($3.50);

• $11 million of 7.5% notes due 2012 ($3.50);

• $42 million of 5.65% notes due 2013 ($3.75);

• $6 million of 5.5% notes due 2013 ($3.75);

• $15 million of 5.5% notes due 2013 ($3.75);

• $27 million of 6.107% notes due 2013 ($3.75);

• $25 million of 4.99% notes due 2013 ($3.75);

• $60 million of 4.95% notes due 2013 ($3.75);

• $250 million of 4.857% notes due 2014 ($4.00);

• $35 million of 6.7% notes due 2014 ($4.00);

• $30 million of 6.525% notes due 2014 ($4.00);

• $20 million of 5.75% notes due 2015 ($4.25);

• $20 million of 5.5% notes due 2015 ($4.25);

• $25 million of 5.35% notes due 2015 ($4.25);

• $25 million of 5.25% notes due 2015 ($4.25);

• $75 million of 5.542% notes due 2016 ($4.50);

• $15.97 million of 6.64% notes due 2026 ($6.50);

• $7 million of 6.6% notes due 2026 ($6.50);

• $25 million of 6.88% notes due 2027 ($4.75);

• $8.75 million of 6.65% notes due 2027 ($6.50); and

• $25 million of 6.46% notes due 2028 ($1.00).

The 6.88% notes due 2027 are putable on June 25, 2017 at par while the 6.46% notes due 2028 are putable on Aug. 11, 2008 at par.

The company is soliciting consents to amend the note indentures to modify the financial covenants.

The solicitation expires at 5 p.m. ET on Oct. 17.

Weingarten said it may execute a supplemental indenture anytime after receiving the necessary consents.

Banc of America Securities LLC is the solicitation agent (866 475-9886 or call collect 704 386-3244). Global Bondholder Services Corp. is the information and tabulation agent (866 470-3800 or call collect 212 430-3774).

Weingarten is a Houston-based real estate investment trust with a portfolio of shopping centers and industrial properties in the United States.

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