Equity One Sells $300 Million of 3.75% Senior Unsecured Notes


Equity One Sells $300 Million of 3.75% Senior Unsecured Notes

NORTH MIAMI BEACH, Fla.--(BUSINESS WIRE)-- Equity One, Inc. (NYS: EQY) (the "Company"), an owner, developer, and operator of shopping centers, announced today that it has priced the sale of $300 million principal amount of 3.75% senior unsecured notes due November 15, 2022. The notes were offered to investors at a price of 99.591% with a yield to maturity of 3.799%, representing a spread at the time of pricing of 2.0% to the August 15, 2022 Treasury note. The Company intends to use the net proceeds of the offering to redeem the Company's $250 million principal amount 6.25% senior notes due 2014, including the make whole premium thereon, for which the Company expects to issue a notice of redemption following the consummation of this offering with a redemption date of approximately November 26, 2012, to reduce the outstanding balance under its unsecured revolving credit facility and/or for general corporate purposes, including pending and future acquisitions, and to fund development and redevelopment activities. The sale of the notes is scheduled to close on or about October 25, 2012.

The joint book-running managers are Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Citigroup and Goldman, Sachs & Co. The co-managers are BB&T Capital Markets, a division of Scott & Stringfellow, LLC, Deutsche Bank Securities Inc., PNC Capital Markets LLC, Raymond James & Associates, Inc., RBC Capital Markets, LLC, SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC and U.S. Bancorp Investments, Inc.

The notes are being offered under the Company's effective shelf registration statement filed on May 5, 2010 with the Securities and Exchange Commission. The offering of the notes will be made only by means of a prospectus supplement, prospectus and authorized free writing prospectus which have or will be filed with the Securities and Exchange Commission. Copies of these offering documents, when available, may be obtained from Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, Attn: Capital Markets Client Support, or by calling toll-free: (800) 326-5897 or by emailing cmclientsupport@wellsfargo.com, Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 11th Floor, New York, NY 10038, Attn: Prospectus Department or by calling toll-free: (800) 294-1322 or by emailing dg.prospectus_requests@baml.com, Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling (888) 603-5847, or by emailing Barclaysprospectus@broadridge.com, Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (tel: 800-831-9146) and Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at 1-866-471-2526, or by emailing prospectus-ny@ny.email.gs.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.


As of June 30, 2012, Equity One's consolidated property portfolio comprised 165 properties consisting of approximately 16.8 million square feet of gross leasable area, including 142 shopping centers, 11 development or redevelopment properties, five non-retail properties and seven land parcels. As of June 30, 2012, Equity One's core portfolio was 91.8% leased and included national, regional and local tenants. Additionally, the company had joint venture interests in 17 shopping centers and two office buildings totaling approximately 2.8 million square feet of gross leasable area.


Certain matters discussed by Equity One in this press release constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements in this press release include, among others, statements about the terms and size of the offering and the use of proceeds from the offering. Although Equity One believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that these expectations will be achieved. Factors that could cause actual results to differ materially from current expectations include volatility of the capital markets; changes in macro-economic conditions and the demand for retail space in the states in which Equity One owns properties; the continuing financial success of Equity One's current and prospective tenants; the risks that Equity One may not be able to proceed with or obtain necessary approvals for development or redevelopment projects or that it may take more time to complete such projects or incur costs greater than anticipated; the availability of properties for acquisition; the extent to which continuing supply constraints occur in geographic markets where Equity One owns properties; the success of its efforts to lease up vacant space; the effects of natural and other disasters; the ability of Equity One to successfully integrate the operations and systems of acquired companies and properties; changes in Equity One's credit ratings; and other risks, which are described in Equity One's filings with the Securities and Exchange Commission. Equity One undertakes no obligation to update these statements for revisions or changes after the date of this release.

Equity One, Inc.
Mark Langer, 305-947-1664
EVP and Chief Financial Officer

KEYWORDS: United States North America Florida


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