Kite Realty Group prices $300 million in senior notes at 5.2%

INDIANAPOLIS - Kite Realty Group Trust (NYSE:KRG), a retail REIT with a market capitalization of $5 billion, announced Tuesday that its operating partnership has priced a $300 million offering of 5.200% Senior Notes due 2032 in an underwritten public offering. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 1.52.

The notes were priced at 99.513% of par value with a yield to maturity of 5.281%. Interest payments will be made semi-annually on February 15 and August 15, starting February 15, 2026.

The offering is expected to close on June 27, 2025, subject to customary closing conditions. Kite Realty plans to use the net proceeds to repay outstanding debt and for general corporate purposes.

Wells Fargo Securities, PNC Capital Markets LLC, TD Securities, BofA Securities, Goldman Sachs & Co. LLC, J.P. Morgan, KeyBanc Capital Markets and Regions Securities LLC served as joint book-running managers for the offering.

The notes are being offered through a shelf registration statement filed with the Securities and Exchange Commission that became effective on June 7, 2024.

Kite Realty Group is a real estate investment trust that owns interests in 180 open-air shopping centers and mixed-use assets across the United States, comprising approximately 27.8 million square feet of gross leasable space as of March 31, 2025. The company’s portfolio is primarily grocery-anchored and located in Sun Belt and select gateway markets.

This article is based on information from a company press release statement.

In other recent news, Kite Realty Group Trust reported a strong first quarter for 2025, surpassing earnings forecasts with an earnings per share (EPS) of $0.11, significantly higher than the expected $0.0739. Revenue also exceeded expectations, reaching $219.17 million compared to the anticipated $211.56 million. Following this positive performance, the company raised its full-year guidance by $0.02 per share. Additionally, Kite Realty’s acquisition of Legacy West, a high-quality mixed-use asset, has bolstered its portfolio. KeyBanc Capital Markets reiterated an Overweight rating on Kite Realty, citing the acquisition as a key factor in its positive outlook. The firm also highlighted the potential growth of Kite Realty’s relationship with GIC, which could provide stability during market volatility. Kite Realty’s strategic focus on high-quality properties and strong leasing demand continues to drive its success.

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