Retail Properties Of America, Inc. Prices $250 Million Offering Of Senior Unsecured Notes

OAK BROOK, Ill., March 5, 2015 /PRNewswire/ -- Retail Properties of America, Inc. (NYSE: RPAI or the "Company") announced today that it has agreed to sell $250 million aggregate principal amount of its 4.00% senior unsecured notes due 2025 (the "Notes") in an underwritten public offering. The Notes were priced at 99.526% of the principal amount to yield 4.058% to maturity. The Notes will mature on March 15, 2025, unless earlier redeemed. The offering is expected to close on March 12, 2015, subject to customary closing conditions.

The Company intends to use the net proceeds from the sale of the Notes for general business purposes, which may include debt repayments. Pending such uses, the Company intends to temporarily use the net proceeds to repay outstanding borrowings under its senior unsecured revolving line of credit.

Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Jefferies LLC are acting as joint book-running managers for this offering. Merrill Lynch, Pierce Fenner & Smith Incorporated, KeyBanc Capital Markets Inc., Regions Securities LLC, Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc., Capital One Securities, Inc., Mitsubishi UFJ Securities (USA), Inc., BB&T Capital Markets, a division of BB&T Securities, LLC and SMBC Nikko Securities America, Inc. are serving as co-managers for this offering.

This offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission and only by means of a prospectus and related prospectus supplement.  Copies of these documents may be obtained by contacting Wells Fargo Securities, LLC, 608 2nd Avenue, South Minneapolis, MN 55402 Attn: WFS Customer Service, telephone: (800) 645-3751 or email: [email protected] or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146 or email: [email protected].  

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

ABOUT RPAI
Retail Properties of America, Inc. is a REIT and is one of the largest owners and operators of high quality, strategically located shopping centers in the United States. As of December 31, 2014, the Company owned 208 retail operating properties representing 30.5 million square feet. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI. Additional information about the Company is available at www.rpai.com.

FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. These forward-looking statements reflect the Company's current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently available to the Company and on assumptions it has made.  Although the Company believes that its plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, the Company can give no assurance that such plans, intentions, expectations or strategies will be attained or achieved.  Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond the Company's control including, without limitation, that the closing of the aforementioned offering is subject to, among other things, standard closing conditions and customary rights of the underwriters to terminate the underwriting agreement due to any outbreak or escalation of hostilities, or any change in financial markets, or any calamity or crisis, either within or outside the United States, or in certain other circumstances, and the factors included in our Annual Report on Form 10-K for the year ended December 31, 2014. As such, readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made.  Except as otherwise required by the federal securities laws, the Company assumes no obligation to publicly release any revisions to such forward-looking statements to reflect events or circumstances after the date as of which they were made.

CONTACT INFORMATION
Michael Fitzmaurice, VP - Finance
Retail Properties of America, Inc.        
(630) 634-4233

Logo - http://photos.prnewswire.com/prnh/20140422/77417

SOURCE Retail Properties of America, Inc.

Related Links

http://www.RPAI.com