Regency Centers Prices $450M 4.50% Senior Unsecured Notes Due 2033
Regency Centers’ operating partnership has priced a $450 million senior unsecured notes offering due March 15, 2033, at a 4.50% coupon and 99.376% of par. Net proceeds will reduce revolver borrowings, repay $100 million of 3.81% notes maturing May 2026, and fund general corporate purposes.
1. Offering Terms
Regency Centers, L.P. has issued $450 million of senior unsecured notes due March 15, 2033, at 99.376% of par with a 4.50% annual coupon payable semiannually on September 15 and March 15, beginning September 15, 2026. The operating partnership’s parent company guarantees principal and interest payments on the Notes.
2. Use of Proceeds
Net proceeds are earmarked to pay down the outstanding balance on the company’s revolving credit facility, retire $100 million of 3.81% notes due May 11, 2026, and support general corporate purposes, including prefunding capital expenditures and redevelopment projects.
3. Settlement Details
The offering is expected to settle on February 23, 2026, subject to customary closing conditions. Interest will accrue from the settlement date until maturity with no special sinking fund requirements.
4. Underwriting and Registration
Joint book-running managers include BofA Securities, J.P. Morgan Securities and U.S. Bancorp Investments, among others, with additional co-managers supporting the transaction. The notes were registered under an existing shelf registration statement filed with the U.S. Securities and Exchange Commission.