UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Weingarten Realty Investors (the “Company”) is party to a $500 million unsecured revolving credit facility agreement (the “Facility”), with a syndicate of banks pursuant to a credit agreement (the “Credit Agreement”) which was amended and extended on December 11, 2019. A copy of the Credit Agreement is filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K on December 12, 2019. The material terms of the Facility are also described in Note 6 of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019. As of December 31, 2019, the Company had no outstanding borrowings under the Facility.
On March 23, 2020, the Company withdrew the remaining $482 million available under the Facility to increase liquidity and preserve financial flexibility in light of the current uncertainty surrounding the impact of COVID-19.
Item 7.01 Regulation FD Disclosure
On March 23, 2020, the Company issued a press release announcing the drawdown under its Facility and the withdrawal of its fiscal 2020 guidance provided on February 25, 2020 due to increased uncertainty surrounding the impact of COVID-19. The Company is not providing updated guidance at this time. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
The following are furnished as exhibits to this report:
| 99.1 | Press Release dated March 23, 2020. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 24, 2020
| WEINGARTEN REALTY INVESTORS | ||
| By: | /s/ Joe D. Shafer | |
| Joe D. Shafer | ||
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Senior Vice President/ |
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| Chief Accounting Officer | ||
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