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Retail Opportunity Investments Corp. Prices Offering of Senior Unsecured Notes

SAN DIEGO, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today that its operating partnership, Retail Opportunity Investments Partnership, LP (the “Operating Partnership”), has priced an offering of $350 million aggregate principal amount of 6.750% senior unsecured notes in an underwritten public offering. The notes will mature on October 15, 2028. Interest on the notes will be paid semi-annually on April 15 and October 15, commencing on April 15, 2024. ROIC expects to use the net proceeds from the offering for the repayment and refinancing of debt, including the Operating Partnership’s 5.000% Senior Notes due 2023 and outstanding borrowings under its unsecured term loan, and for general corporate purposes. The offering is expected to close on September 21, 2023, subject to customary closing conditions.

J.P. Morgan Securities LLC, BofA Securities, Inc., PNC Capital Markets LLC, Wells Fargo Securities, LLC, KeyBanc Capital Markets Inc. and U.S. Bancorp Investments, Inc. acted as joint book-running managers. M&T Securities, Inc. and Regions Securities LLC acted as co-managers.

This offering was made pursuant to an effective shelf registration statement and prospectus and related prospectus supplement filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any notes nor will there be any sale of these notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. A copy of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717, or toll-free at 1-866-803-9204; BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, Email:; PNC Capital Markets LLC toll-free at 1-855-881-0697 or Wells Fargo Securities, LLC 608 2nd Avenue South, Suite 1000, Minneapolis, Minnesota 55402, Attention: WFS Customer Service, or by calling: 1-800-645-3751, or by emailing:


Retail Opportunity Investments Corp. (NASDAQ: ROIC), is a fully-integrated, self-managed real estate investment trust (a “REIT”) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely-populated, metropolitan markets across the West Coast. As of June 30, 2023, ROIC owned 93 shopping centers encompassing approximately 10.6 million square feet. ROIC is the largest publicly-traded, grocery-anchored shopping center REIT focused exclusively on the West Coast. ROIC is a member of the S&P SmallCap 600 Index.

When used herein, the words “believes,” “anticipates,” “projects,” “should,” “estimates,” “expects,” and similar expressions are intended to identify forward-looking statements within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and in Section 21F of the Securities Exchange Act of 1934, as amended. Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of ROIC to differ materially from future results expressed or implied by such forward-looking statements. Information regarding such risks and factors is described in ROIC's filings with the SEC, including its most recent Annual Report on Form 10-K.


Nicolette O’Leary
Director of Investor Relations

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