Equity One In $125M Note Sale

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NORTH MIAMI BEACH, FL-Equity One has priced the sale of a $125-million principal amount of 6% senior unsecured notes that are due Sept. 15, 2016. The sale is scheduled to close this Friday, March 10, at a price of 99.277% with a yield to maturity of 6.094%.

At the time of the pricing, that represents a spread of 1.35% to the February 2016 Treasury note. All of the notes are rated Baa3 by Moody’s Investor Service and BBB- by Standard & Poor’s. According to a statement, the locally based shopping center REIT plans to use the net proceeds to repay existing debt under its unsecured revolving credit facility.