Kite Realty Group Announces 32M Share Offering

Kite Realty Group Trust

announced today that it has commenced an underwritten public offering of 32,000,000 common shares of beneficial interest. BofA Merrill Lynch, KeyBanc Capital Markets, Barclays and Wells Fargo Securities will be serving as the joint book-running managers for this offering. The underwriters will be granted a 30-day option to purchase up to an additional 4,800,000 common shares of beneficial interest. The Company intends to use the net proceeds from this offering initially to repay approximately $64.2 million of outstanding indebtedness under the Company's unsecured revolving credit facility and the remainder to fund a portion of the purchase price of the previously announced acquisition of a portfolio of nine retail