Kilroy Realty, First Capital Price Rule 144A Deals
May 19, 2010
Kilroy Realty priced an offering of $250 million aggregate principal amount of 6.625% senior unsecured notes due 2020 in a Rule 144A private placement.
Meanwhile, First Capital completed a 3.5-year $100 million term securitization via a Rule 144A private placement. The transaction closed on March 31.
The offering included a $90 million senior tranche rated 'AA' by DBRS and a subordinate tranche rated 'BBB'. Guggenheim Securities was the deal's initial purchaser.
"The securitization shows we can raise long term funding," said John Kiefer, chairman of First Capital. "The transaction makes us stronger than ever and, most importantly; gives us the resources to increase lending."
Structured Finance Advisors served as an advisor to First Capital in the term securitization.
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