Kite Realty closes $345 million of 3.25% exchangeable senior notes due 2032
On July 2, 2026, Kite Realty Group, L.P., the operating partnership of Kite Realty Group Trust, closed a $345 million private placement of 3.25% exchangeable senior notes due April 15, 2032, including $45 million from the full exercise of the initial purchasers' option. The company said net proceeds of about $335.7 million will be used partly to repay $300 million of 4.00% senior notes due 2026 and to repurchase about $30 million of common shares, and it entered into capped call transactions that are generally expected to reduce potential dilution from exchanges. The offering adds $345 million of debt, and the filing does not report earnings or guidance changes.
Key points
- $345 million of 3.25% exchangeable senior notes due April 15, 2032, sold in a Rule 144A private placement, closed July 2, 2026
- Exchange price of about $35.40 per common share, a premium of about 22.5% to the $28.90 close on June 29, 2026; up to 11,937,690 common shares may be issued on exchange
- Net proceeds of about $335.7 million, to be used to repay the $300 million 4.00% notes due 2026 and repurchase about $30 million of common shares
- Capped call cap price of $41.91, a premium of about 45% over the June 29, 2026 closing price
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:05 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 02, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.