DDR Prices $400 Million Offering of 4.250% Senior Unsecured Notes

Oct 14, 2015

BEACHWOOD, Ohio, Oct. 14, 2015 /PRNewswire/ -- DDR Corp. (NYSE: DDR) today announced the pricing of $400 million of senior unsecured notes in an underwritten public offering.  The offering consists of $400 million of 4.250% notes due 2026.  The notes are being offered to investors at a price of 99.094% with a yield to maturity of 4.361%.  Interest on the notes will be paid semi-annually on February 1 and August 1, beginning February 1, 2016.  The offering is expected to close on or about October 21, 2015, subject to customary closing conditions.

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Citigroup Global Markets Inc., J.P. Morgan Securities LLC, UBS Securities LLC, RBC Capital Markets, LLC and Scotia Capital (USA) Inc. are serving as joint book-running managers for the offering. BNY Mellon Capital Markets, LLC, Capital One Securities, Inc., KeyBanc Capital Markets Inc., Regions Securities LLC and U.S. Bancorp Investments, Inc. are serving as senior co-managers, and The Huntington Investment Company, FTN Financial Securities Corp. and SMBC Nikko Securities America, Inc. are serving as co-managers, for the offering.

DDR may use all or a portion of the net proceeds it receives from the offering of the notes to repay debt under its $750 million unsecured revolving credit facility and for general corporate purposes, which may include the repayment of secured and unsecured debt from time to time. DDR may use all or a portion of the net proceeds it receives from the offering of the notes, together with cash on hand, to satisfy the cash obligations in connection with the repurchase, redemption or conversion of its $350 million aggregate principal amount of 1.75% convertible senior notes due 2040.

A copy of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, from:

Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone:  (800) 831-9146, or by e-mailing BATProspectusdept@citi.comJ.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention: Investment Grade Syndicate Desk - 3rd floor, telephone: (212) 834-4533 (collect); and UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, telephone: (888) 827-7275.

This release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted.  A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective.

About DDR Corp.
DDR is an owner and manager of 378 value-oriented shopping centers representing 116 million square feet in 41 states and Puerto Rico. The Company's portfolio is comprised primarily of large-format power centers located in top markets across the United States, and is actively managed to create long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the Company is available at www.ddr.com.

Safe Harbor
DDR considers portions of the information in this press release to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Company's expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements, including, among other factors, local conditions such as supply of space or a reduction in demand for real estate in the area; competition from other available space; dependence on rental income from real property; the loss of, significant downsizing of or bankruptcy of a major tenant; constructing properties or expansions that produce a desired yield on investment; our ability to buy or sell assets on commercially reasonable terms; our ability to complete acquisitions or dispositions of assets under contract; our ability to secure equity or debt financing on commercially acceptable terms or at all; our ability to enter into definitive agreements with regard to our financing and joint venture arrangements or our failure to satisfy conditions to the completion of these arrangements; and the success of our capital recycling strategy. For additional factors that could cause the results of the Company to differ materially from those indicated in the forward-looking statements, please refer to the Company's Form 10-K for the year ended December 31, 2014, as amended. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

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SOURCE DDR Corp.

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