Kite Realty Group, L.P. has announced an underwriting agreement for the issuance of $300,000,000 aggregate principal amount of its 5.200% Senior Notes due 2032. The underwriters named in the agreement include Wells Fargo Securities, LLC, PNC Capital Markets LLC, and TD Securities (USA) LLC. The notes will be issued pursuant to a base indenture dated as of September 26, 2016, and a fourth supplemental indenture to be dated as of June 27, 2025, among the Operating Partnership, the Company, and the Trustee.
As part of the agreement, Kite Realty Group, L.P. has made various representations and agreements. The company has filed an "automatic shelf registration statement" on Form S-3 within three years of the date of the agreement, including a base prospectus relating to the offer and sale of certain securities, including the Notes. The company also confirmed that the Registration Statement, Preliminary Prospectus, and Prospectus conformed to the requirements of the Securities Act and did not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein.
Furthermore, the company has complied with all prospectus delivery and filing requirements applicable to Issuer Free Writing Prospectuses and has satisfied all the requirements of the Securities Act for the use of Form S-3 for the offering of Notes. The company also represented that it was not, is not, and will not be an "ineligible issuer" as defined in Rule 405 under the Securities Act.
These representations and agreements demonstrate the company's commitment to compliance and transparency in its offering of the Senior Notes. It also provides assurance to the underwriters and potential investors regarding the accuracy and completeness of the information provided in connection with the offering.
This underwriting agreement signifies Kite Realty Group, L.P.'s strategic move to raise capital through the issuance of Senior Notes, and the specific details outlined in the agreement reflect the company's adherence to regulatory and legal requirements in the offering process. As a result of these announcements, the company's shares have moved -0.48% on the market, and are now trading at a price of $22.67. If you want to know more, read the company's complete 8-K report here.
