KRG Kite Realty Group Trust New

Kite Realty Group Trust (NYSE: KRG) (the “Company”) announced today that, on January 12, 2024, its operating partnership, Kite Realty Group, L.P. (the “Operating Partnership”), priced an offering of $350 million aggregate principal amount of 5.500% Senior Notes due 2034 (the “Notes”) in an underwritten public offering. The Notes will be issued at 98.670% of par value with a yield to maturity of 5.673%. Interest on the Notes is payable semi-annually on March 1 and September 1 of each year, beginning on September 1, 2024. The offering is expected to close on January 17, 2024, subject to the satisfaction of customary closing conditions.

The Operating Partnership intends to use the net proceeds from this offering to repay outstanding indebtedness and for general corporate purposes.

J.P. Morgan, Wells Fargo Securities, PNC Capital Markets LLC, BofA Securities, Citigroup, Goldman Sachs & Co. LLC and KeyBanc Capital Markets acted as joint book-running managers for the offering. Regions Securities LLC, TD Securities and US Bancorp served as senior co-managers for the offering. Capital One Securities, Ramirez & Co., Inc., Scotiabank and Truist Securities served as co-managers for the offering.

The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission (the “SEC”), which became effective on November 16, 2021. A preliminary prospectus supplement relating to the offering has been filed with the SEC.

The offering may be made only by means of a prospectus and related prospectus supplement. Copies of the prospectus supplement and the accompanying prospectus relating to these securities may be obtained, when available, by contacting J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attn: Investment Grade Syndicate Desk – 3rd Floor, by telephone collect at 1-212-834-4533, Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, Email: wfscustomerservice@wellsfargo.com, by telephone (toll free) at 1-800-645-3751, or PNC Capital Markets LLC, 300 Fifth Avenue, 10th Floor, Pittsburgh, Pennsylvania 15222, by telephone (toll free) at 1-855-881-0697.

This press release is for information purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust headquartered in Indianapolis, IN that owns and operates open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets. As of September 30, 2023, the Company owned interests in 180 U.S. open-air shopping centers and mixed-use assets, comprising approximately 28.3 million square feet of gross leasable space.

Safe Harbor

This release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, performance, transactions or achievements, financial or otherwise, may differ materially from the results, performance, transactions or achievements, financial or otherwise, expressed or implied by the forward-looking statements.

Risks, uncertainties and other factors that might cause such differences, some of which could be material, include but are not limited to: national and local economic, business, banking, real estate and other market conditions, particularly in connection with low or negative growth in the U.S. economy as well as economic uncertainty (including a potential economic slowdown or recession, rising interest rates, inflation, unemployment, or limited growth in consumer income or spending); financing risks, including the availability of, and costs associated with, sources of liquidity; the Company’s ability to refinance, or extend the maturity dates of, the Company’s indebtedness; the level and volatility of interest rates; the financial stability of tenants; the competitive environment in which the Company operates, including potential oversupplies of and reduction in demand for rental space; acquisition, disposition, development and joint venture risks; property ownership and management risks, including the relative illiquidity of real estate investments, and expenses, vacancies or the inability to rent space on favorable terms or at all; the Company’s ability to maintain the Company’s status as a real estate investment trust for U.S. federal income tax purposes; potential environmental and other liabilities; impairment in the value of real estate property the Company owns; the attractiveness of the Company’s properties to tenants, the actual and perceived impact of e-commerce on the value of shopping center assets and changing demographics and customer traffic patterns; business continuity disruptions and a deterioration in the Company’s tenant’s ability to operate in affected areas or delays in the supply of products or services to the Company or its tenants from vendors that are needed to operate efficiently, causing costs to rise sharply and inventory to fall; risks related to the Company’s current geographical concentration of its properties in the states of Florida, Texas and North Carolina and the metropolitan statistical areas of New York, Atlanta, Seattle, Chicago and Washington, D.C.; civil unrest, acts of violence, terrorism or war, acts of God, climate change, epidemics, pandemics (including the ongoing pandemic of the novel coronavirus (“COVID-19”)), natural disasters and severe weather conditions, including such events that may result in underinsured or uninsured losses or other increased costs and expenses; changes in laws and government regulations including governmental orders affecting the use of the Company’s properties or the ability of its tenants to operate, and the costs of complying with such changed laws and government regulations; possible short-term or long-term changes in consumer behavior due to COVID-19 and the fear of future pandemics; the Company’s ability to satisfy environmental, social or governance standards set by various constituencies; insurance costs and coverage, especially in Florida and Texas coastal areas; risks associated with cybersecurity attacks and the loss of confidential information and other business disruptions; other factors affecting the real estate industry generally; and other risks identified in reports the Company files with the SEC or in other documents that it publicly disseminates, including, in particular, the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The Company undertakes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information: Kite Realty Group TrustTyler HenshawSVP, Capital Markets & Investor Relations317.713.7780thenshaw@kiterealty.com