Exhibit 1.5
[Execution Copy]
Pricing Agreement
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First Union Securities, Inc.
000 Xxxxx Xxxxxxx Xxxxxx, XX-0
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
December 6, 2000
Ladies and Gentlemen:
Regency Centers, L.P., a Delaware limited partnership (the
"Partnership"), proposes, subject to the terms and conditions stated herein and
in the Underwriting Agreement, dated December 6, 2000 (the "Underwriting
Agreement"), between the Partnership and Regency Realty Corporation, a Florida
corporation ("Regency"), on the one hand, and First Union Securities, Inc., on
the other hand, to issue and sell to First Union Securities, Inc. (the
"Underwriters") the Securities specified in Schedule I hereto (the "Designated
Securities"). Each of the provisions of the Underwriting Agreement is
incorporated herein by reference in its entirety, and shall be deemed to be a
part of this Agreement to the same extent as if such provisions had been set
forth in full herein, and each of the representations and warranties set forth
therein shall be deemed to have been made at and as of the date of this Pricing
Agreement, except that (i) each representation and warranty which refers to the
Prospectus in Section 2 of the Underwriting Agreement shall be deemed to be a
representation or warranty as of the date of the Underwriting Agreement in
relation to the Prospectus (as therein defined) and also a representation and
warranty as of the date of this Pricing Agreement in relation to the Prospectus
as amended or supplemented relating to the Designated Securities which are the
subject of this Pricing Agreement and (ii) the condition set forth in Section
7(d) of the Underwriting Agreement shall be deemed satisfied by the delivery of
letters, dated August 23, 2000 and August 29, 2000, from KPMG LLP, which had
been delivered in connection with another issuance of Debt Securities, in each
case, addressed to the Underwriters.
Each reference to the Representatives herein and in the provisions of
the Underwriting Agreement so incorporated by reference shall be deemed to refer
to you. Unless otherwise defined herein, terms defined in the Underwriting
Agreement are used herein as therein defined. The Representatives designated to
act on behalf of the Representatives and on behalf of the Underwriters of the
Designated Securities pursuant to Section 12 of the Underwriting Agreement and
the address of the Representatives referred to in such Section 12 are set forth
at the end of Schedule I hereto.
An amendment to the Registration Statement, or a supplement to the
Prospectus, as the case may be, relating to the Designated Securities, in the
form heretofore delivered to you is now proposed to be filed with the
Commission.
Subject to the terms and conditions set forth herein and in the
Underwriting Agreement incorporated herein by reference, the Partnership and
Regency agree to issue and sell to the Underwriters, and the Underwriters agree
to purchase from the Partnership and Regency, at the
time and place and at the purchase price to the Underwriters set forth in
Schedule I hereto, the Designated Securities.
If the foregoing is in accordance with your understanding, please sign
and return to us four counterparts hereof, and upon acceptance hereof by the
Underwriters, this letter and such acceptance hereof, including the provisions
of the Underwriting Agreement incorporated herein by reference, shall constitute
a binding agreement between the Underwriters, the Partnership and Regency.
Very truly yours,
Regency Centers, L.P.
By: Regency Realty Corporation,
general partner
By: /s/ Xxxxx X. Xxxxxxx
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Name: Xxxxx X. Xxxxxxx
Title: Managing Director and
Chief Financial Officer
Regency Realty Corporation
By: /s/ Xxxxx X. Xxxxxxx
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Name: Xxxxx X. Xxxxxxx
Title: Managing Director and
Chief Financial Officer
Accepted as of the date hereof:
First Union Securities, Inc.
By: ..............................
Name:
Title:
2
SCHEDULE I
Title of Designated Securities:
8% Notes due December 15, 2010
Aggregate principal amount:
$10,000,000
Price to Public:
100% of the principal amount of the Designated Securities, plus accrued
interest, if any, from December 15, 2000 to the Time of Delivery
Purchase Price by Underwriters:
99.375% of the principal amount of the Designated Securities, plus
accrued interest, if any, from December 15, 2000 to the Time of
Delivery
Form of Designated Securities:
Book-entry only form represented by one or more global securities
deposited with The Depository Trust Company ("DTC") or its designated
custodian, to be made available for checking by the Representatives at
least twenty-four hours prior to the Time of Delivery at the office of
DTC.
Specified funds for payment of purchase price:
Federal (same day) funds
Time of Delivery:
10:00 a.m. (New York City time) on December 15, 2000
Indenture:
Indenture, dated as of March 9, 1999, among the Partnership, the
Guarantors named therein and First Union National Bank, as Trustee
Maturity:
December 15, 2010
Interest Rate:
8%
3
Interest Payment Dates:
June 15 and December 15, commencing June 15, 2001
Redemption Provisions:
None
Sinking Fund Provisions:
No sinking fund provisions
Closing location for delivery of Designated Securities:
Xxxxxxxx & Xxxxxxxx
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Additional Closing Conditions:
None
Names and addresses of Representatives:
Designated Representatives: First Union Securities, Inc.
Address for Notices, etc.: 000 Xxxxx Xxxxxxx Xxxxxx, XX-0, Xxxxxxxxx,
Xxxxx Xxxxxxxx 00000
Other Terms:
None
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