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Weingarten Realty to pay down revolver debt via note offering proceeds
By Ashley Montgomery
Kansas City, Kan., Oct. 1 - Weingarten Realty Investors plans to use the proceeds from its notes offering to repay outstanding revolving credit facility borrowings, according to a filing with the Securities and Exchange Commission.
The company said it owed $250 million under its $500 million revolver as of Sept. 30. The revolver matures in September 2015.
Proceeds will also be used to retire some or all of the company's outstanding $54.1 million 3.95% convertible senior notes due Aug. 1, 2026 and for general corporate purposes.
Weingarten Realty is a Houston-based company focused on the acquisition, management, development and ownership of neighborhood shopping centers and industrial properties.
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