Filed Pursuant to Rule 433
Issuer Free Writing Prospectus dated June 27, 2017
Relating to Preliminary Prospectus Supplement dated June 27, 2017
to Prospectus dated March 31, 2017
Registration Nos. 333-217081 and 333-217081-01
REGENCY CENTERS, L.P.
3.600% Notes Due 2027
Pricing Term Sheet
| Issuer: | Regency Centers, L.P. | |
| Security: | 3.600% Notes due 2027 (the “2027 Notes”) | |
| Guarantee: | Regency Centers Corporation, the general partner of Regency Centers, L.P., will guarantee the payment of principal and interest of the Notes. | |
| Expected Ratings (Moody’s / S&P / Fitch)*: | [Intentionally Omitted] | |
| Principal Amount: | $175,000,000 | |
| Coupon (Interest Rate): | 3.600% per annum | |
| Interest Payment Dates: | February 1 and August 1, commencing August 1, 2017 | |
| Maturity: | February 1, 2027 | |
| Denominations: | $2,000 x $1,000 in excess thereof | |
| Price to Public: | 100.379% of principal amount, plus accrued interest from, and including, January 26, 2017 to, but excluding, the date of settlement, totaling $2,695,000. | |
| Trade Date: | June 27, 2017 | |
| Settlement Date: | T+3; June 30, 2017 | |
| Net Proceeds: | $174,525,750 (after deducting underwriting discount and before expenses associated with the transaction and excluding $2,695,000 payable to us in respect to accrued interest from, and including, January 26, 2017 to, but excluding, the date of settlement). | |
| Optional Redemption Provision: | In full or in part at any time, prior to November 1, 2026 (“Par Call Date”), make whole call based on U.S Treasury plus 20 bps to the Par Call Date, and, on or after the Par Call Date, redeemable at 100% of the principal amount plus accrued and unpaid interest to the redemption date. | |
| Benchmark Treasury: | 2.375% due May 15, 2027 | |
| Spread to Benchmark Treasury: | +135 bps | |
| Benchmark Treasury Price / Yield: | 101-17 / 2.202% | |
| Re-Offer Yield: | 3.552% | |
| CUSIP / ISIN: | 75884R AV5 / US75884RAV50 | |
| Joint Book-Running Managers: | Wells Fargo Securities, LLC J.P. Morgan Securities LLC Merrill Lynch, Pierce, Fenner & Smith Incorporated SunTrust Robinson Humphrey, Inc. U.S. Bancorp Investments, Inc. | |
| Co-Managers: | PNC Capital Markets LLC Regions Securities LLC Mizuho Securities USA LLC BB&T Capital Markets, a division of BB&T Securities, LLC RBC Capital Markets, LLC SMBC Nikko Securities America, Inc. TD Securities (USA) LLC Comerica Securities, Inc. | |
REGENCY CENTERS, L.P.
4.400% Notes Due 2047
Pricing Term Sheet
| Issuer: | Regency Centers, L.P. | |
| Security: | 4.400% Notes due 2047 (the “2047 Notes”) | |
| Guarantee: | Regency Centers Corporation, the general partner of Regency Centers, L.P., will guarantee the payment of principal and interest of the Notes. | |
| Expected Ratings (Moody’s / S&P / Fitch)*: | [Intentionally Omitted] | |
| Principal Amount: | $125,000,000 | |
| Coupon (Interest Rate): | 4.400% per annum | |
| Interest Payment Dates: | February 1 and August 1, commencing August 1, 2017 | |
| Maturity: | February 1, 2047 | |
| Denominations: | $2,000 x $1,000 in excess thereof | |
| Price to Public: | 100.784% of principal amount, plus accrued interest from, and including, January 26, 2017 to, but excluding, the date of settlement, totaling $2,352,777.78. | |
| Trade Date: | June 27, 2017 | |
| Settlement Date: | T+3; June 30, 2017 | |
| Net Proceeds: | $124,886,250 (after deducting underwriting discount and before expenses associated with the transaction and excluding $2,352,777.78 payable to us in respect to accrued interest from, and including, January 26, 2017 to, but excluding, the date of settlement). | |
| Optional Redemption Provision: | In full or in part at any time, prior to August 1, 2046 (“Par Call Date”), make whole call based on U.S Treasury plus 25 bps to the Par Call Date, and, on or after the Par Call Date, redeemable at 100% of the principal amount plus accrued and unpaid interest to the redemption date. | |
| Benchmark Treasury: | 3.000% due February 15, 2047 | |
| Spread to Benchmark Treasury: | +160 bps | |
| Benchmark Treasury Price / Yield: | 105-00 / 2.752% | |
| Re-Offer Yield: | 4.352% | |
| CUSIP / ISIN: | 75884R AW3 / US75884RAW34 | |
| Joint Book-Running Managers: | Wells Fargo Securities, LLC J.P. Morgan Securities LLC Merrill Lynch, Pierce, Fenner & Smith Incorporated SunTrust Robinson Humphrey, Inc. U.S. Bancorp Investments, Inc. | |
| Co-Managers: | PNC Capital Markets LLC Regions Securities LLC Mizuho Securities USA LLC BB&T Capital Markets, a division of BB&T Securities, LLC RBC Capital Markets, LLC SMBC Nikko Securities America, Inc. TD Securities (USA) LLC Comerica Securities, Inc. | |
*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission, or SEC, for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the prospectus supplement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, the issuer underwriters participating in the offering will arrange to send you the prospectus supplement and accompanying prospectus if you request it by calling Well Fargo Securities, LLC at 1-800-645-3751 or by emailing wfscustomerservice@wellsfargo.com, J.P. Morgan Securities LLC collect at (212) 834-4533, Merrill Lynch, Pierce, Fenner & Smith Incorporated at 1-800-294-1322 or by emailing dg.prospectus_requests@baml.com or by calling SunTrust Robinson Humphrey, Inc. at 1-800-685-4786 or by emailing STRHdocs@SunTrust.com or by calling US Bancorp Investments, Inc. at 1-877-558-2607.