Weingarten Realty Investors Announces the Results of Its Any and All Tender Offer (PR Newswire)
Wed, 10 Jun 2009 10:00:00 Etc/GM
Percentage
Aggregate Aggregate of
Principal Principal Outstanding
Amount Amount Amount
CUSIP Number Title of Security Outstanding Tendered Tendered
------------ ----------------- ----------- --------- -----------
948741AD5 7.000% Senior $200,000,000 $82,330,000 41.17%
Unsecured Notes
due July 15,
2011
94874RAV8 7.070% Medium $12,000,000 $10,000 0.08%
Term Notes due
June 26, 2009
94874RBH8 7.350% Medium $20,000,000 $0 0.00%
Term Notes due
July 20, 2009
94874RBN5 7.400% Medium $10,000,000 $0 0.00%
Term Notes due
December 21,
2010
94874RAQ9 7.440% Medium $15,000,000 $5,035,000 33.57%
Term Notes due
August 19, 2011
94874RBP0 7.500% Medium $15,000,000 $14,070,000 93.80%
Term Notes due
December 19,
2010
94874RBJ4 8.250% Medium $10,500,000 $1,500,000 14.29%
Term Notes due
January 22, 2010
Based on the aggregate principal amount of Non-Convertible Notes purchased as a result of the Any and All Offer, and in accordance with the terms and conditions described in the Offer to Purchase dated June 1, 2009 (the "Offer to Purchase") and the related Letter of Transmittal (together, the "Maximum Tender Offer"), the aggregate principal amount of $247,055,000 is available to Weingarten to purchase a portion of its 3.950% Convertible Senior Unsecured Notes due August 1, 2026 (the "Convertible Notes").
J.P. Morgan Securities Inc. is the Dealer Manager and Global Bondholder Services Corporation is acting as the Depositary and Information Agent for the Any and All Offer and the Maximum Tender Offer (together, the "Offers").
For additional information regarding the terms of the Offers please contact: J.P. Morgan Securities Inc. at (866) 834-4666 (toll free) or (212) 834-3424 (collect). Requests for documents and questions regarding the tendering of Non-Convertible Notes and Convertible Notes may be directed to Global Bondholder Services Corporation at (866) 470-4200 (toll-free) or (212) 430-3774 (collect).
Forward-Looking Statements
In addition to historical information, this press release contains forward-looking statements. These statements are based on current expectations, estimates and projections about the industry and markets in which Weingarten operates, management's beliefs, and assumptions made by management. It is important to note that Weingarten's actual results could differ materially from those projected in such forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties which are difficult to predict. Reference is made to Weingarten's regulatory filings with the Securities and Exchange Commission for information or factors that may impact Weingarten's performance.
About Weingarten Realty Investors
As one of the largest real estate investment trusts listed on the New York Stock Exchange, Weingarten Realty (NYSE: WRI - News) is celebrating its 60th anniversary as a commercial real estate owner, manager and developer, formed in 1948. Focused on delivering solid returns to shareholders, Weingarten is actively developing, acquiring, and intensively managing properties in 23 states that span the United States from coast-to-coast. The Company's portfolio of 404 properties includes 323 neighborhood and community shopping centers and 81 industrial properties. Including tenant-owned square footage, the Company's portfolio currently totals approximately 73 million square feet under management. Weingarten has one of the most diversified tenant bases of any major REIT in its sector, with the largest of its 5,300 tenants comprising less than 3% of its rental revenues. To learn more about the Company's operations and growth strategies, please visit www.weingarten.com.
source: http://biz.yahoo.com/prnews/090610/da30313.html?.v=1