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HOUSTON — Real estate investment trust Weingarten Realty Investors said Monday it has expanded an offer to repurchase outstanding notes to a total $325 million, and extended the time it's giving investors to decide on the maximum tender offer.
The new total is nearly $78 million higher than the the amount specified in the original June 1 offer to exchange convertible notes due in 2026, Houston-based Weingarten Realty said. Investors have an additional 10 business days to consider the offer, which now expires July 13.
JPMorgan Securities Inc. is serving as dealer and manager for the offering from Weingarten Realty, which specializes in shopping center and industrial developments. Its shares rose 4 cents to $14.39 in midday trading.
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