Regency Centers Corporation · NASDAQ:REG
Regency Centers — Debt Investor Presentation (February 2021)
8 slides from Regency Centers's debt investor presentation, Feb 12, 2021
Slide 1: Fourth Quarter 2020 Fixed Income Supplemental
Village Plaza Raleigh, NC Brick Walk Bridgeport, CT The Hub Hillcrest Market San Diego, CA Woodway Collection Houston, TX Belmont Chase Ashburn, VA Murrayhill Marketplace Portland, OR Pinecrest Place Miami, FL FOURTH QUARTER 2020 Fixed Income Supplemental Regency Centers
Slide 2: Fourth Quarter and Full Year 2020 Highlights
Fourth Quarter and Full Year 2020 Highlights n Reported Nareit FFO for the fourth quarter of $0.76 per diluted share; one-time items include a write-off of development pursuit costs of $0.05 per diluted share, a swap breakage charge of $0.02 per diluted share, and a write-off of straight line rents
Slide 3: Subsequent Highlights
Subsequent Highlights n Subsequent to year-end, closed on the sale of one shopping center for a gross sales price of $9.0 million, and one non-income producing asset for $29.4 million, both at Regency’s share n On January 15, 2021, repaid the $265 million term loan originally due January 2022 (the “
Slide 4: COVID-19 Business Update
COVID-19 Business Update n As of January 31, 2021, approximately 97% of the Company’s tenants were open based on pro-rata Annual Base Rent (“ABR”), although governmental restrictions on specific tenant businesses can change daily. n As of January 31, 2021, the Company had executed rent deferral agre
Slide 5: Credit Ratings and Select Ratios
Credit Ratings and Select Ratios i. For a complete listing of all Debt Covenants related to the Company’s Senior Unsecured Notes, as well as definitions of the above terms, please refer to the Company’s filings with the Securities and Exchange Commission. ii. Current period debt covenants are finali
Slide 6: Capital Structure & Liquidity Profile
Capital Structure & Liquidity Profile i i. Subsequent to quarter end, Regency paid down the 2022 term loan in full and paid the Q4 2020 dividend Liquidity Profile ($ millions) 12/31/20 Unsecured Credit Facility - Committed 1,250 Balance Outstanding - Undrawn Portion of Credit Facility 1,250 Cash, Ca
Slide 7: Maturity Schedule
Maturity Schedule A Well-Laddered Maturity Schedule Wtd Avg Interest Rate: 3.7% Wtd Avg Yrs to Maturity: 9+ Yrs Total Pro Rata Debt: $4.5B UNCONSOLIDATED DEBT - SECURED CONSOLIDATED DEBT - SECURED UNSECURED DEBT - BONDS UNSECURED DEBT - TERM Debt Maturity Profile as of December 31, 2020 (Cash Balanc
Slide 8: Earnings Call Information and Forward-Looking Statements
Follow us Fourth Quarter 2020 Earnings Conference Call Friday, February 12th, 2021 Time: 12:00 PM ET Dial#: 877-407-0789 or 201-689-8562 Webcast: investors.regencycenters.com Contact Information: Christy McElroy Senior Vice President, Capital Markets 904-598-7616 ChristyMcElroy@RegencyCenters.com Fo
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