Kilroy Realty Corporation Prices Follow-On Equity Offering
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LOS ANGELES, August 15, 1997 - Kilroy Realty Corporation (NYSE:KRC) today said its follow-on primary offering of 10,000,000 shares of its common stock was priced at $25.50 per share. The offering is expected to close on August 20, 1997.
The company said it plans to use the net proceeds of approximately $241 million to reduce the outstanding balance on its revolving credit facility and to fund the continued expansion of its real estate portfolio.
Prudential Securities Incorporated is lead manager for the offering, with Donaldson, Lufkin & Jenrette Securities Corporation, Merrill Lynch & Co. , J.P. Morgan & Co., Morgan Stanley Dean Witter, and Smith Barney Inc. as co-managers.
Copies of the prospectus may be obtained from Prudential Securities Incorporated, Prospectus Department, 111 Eighth Avenue, Fifth Floor, New York, NY 10011 (212) 776-8190.
Kilroy Realty Corporation owns, operates and develops office and industrial properties, primarily in California. At June 30, 1997, the company owned 2.7 million square feet of commercial office space and 2.5 million square feet of industrial space.