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RPT Realty to redeem all outstanding notes from 11 series
By Mary Katherine Stinson
Lexington, Ky., Jan. 3 RPT Realty notified holders that it will redeem all the outstanding notes from 11 series on Jan. 12 in connection with the companys acquisition by Kimco Realty, according to an 8-K filing with the Securities and Exchange Commission.
The notice covers the following series of notes:
4.27% senior guaranteed notes, series C, due June 27, 2025, of which $31.5 million is currently outstanding;
4.74% senior guaranteed notes, series B, due May 28, 2026, of which $50 million is currently outstanding;
4.2% senior guaranteed notes, series C, due July 6, 2025, of which $50 million is currently outstanding;
4.09% senior guaranteed notes, series A, due Sept. 30, 2025, of which $50 million is currently outstanding;
4.28% senior guaranteed notes, series C, due Nov. 18, 2026, of which $25 million is currently outstanding;
3.64% senior guaranteed notes due Nov. 30, 2028, of which $75 million is currently outstanding;
4.57% senior guaranteed notes, series B, due Dec. 21, 2027, of which $30 million is currently outstanding;
4.72% senior guaranteed notes, series C, due Dec. 21, 2029, of which $20 million is currently outstanding;
3.7% senior guaranteed notes, series A, due Nov. 30, 2030, of which $75 million is currently outstanding;
3.82% senior guaranteed notes, series B, due Nov. 30, 2031, of which $55 million is currently outstanding; and
4.15% senior guaranteed notes due Dec. 27, 2029, of which $50 million is currently outstanding.
The prepayments will be financed with cash on hand and borrowings under Kimco OPs $2 billion revolving credit facility, as needed.
As previously reported, RPT is being acquired by Kimco Realty in an all-stock transaction valued at approximately $2 billion, including the assumption of debt and preferred stock.
RPT is a New York-based real estate investment trust that owns and operates a portfolio of open-air shopping destinations.
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