Kite Realty Group issues $350M 4.950% senior notes due 2031; proceeds to repay 2025 notes

KITE REALTY GROUP TRUST

$350M 4.950% Senior Notes due Dec 15, 2031; interest semi-annual beginning Dec 15, 2024.
Proceeds to repay $350M of existing 4.00% Senior Notes due March 2025 plus general corporate purposes.
Unsecured notes rank equally with other unsecured debt; covenants include max leverage 60%, secured debt 40%.
Underwriters: Wells Fargo, BofA, U.S. Bancorp. Redemption price prior to Oct 15, 2031 at Treasury+20 bps.
Issued under shelf registration; supplemental indenture with Kite Realty Group Trust as possible future guarantor.

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