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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 30, 1997 (May 23, 1997)
JDN REALTY CORPORATION
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(Exact name of registrant as specified in its charter)
Maryland 1-12844 58-1468053
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(State or other jurisdiction (Commission file number) (IRS Employer
of incorporation) Identification No.)
3340 Peachtree Road, N.E., Suite 1530, Atlanta, Georgia 30326
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (404) 262-3252
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Not Applicable
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(Former name of former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On May 23, 1997, JDN Realty Corporation closed a $150 million unsecured
line of credit which replaced its $40 million secured line of credit. A copy of
the related press release is included as an exhibit to this filing.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Financial Statements:
NONE
Exhibits:
EXHIBIT NO. DESCRIPTION
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99.1 Press Release: JDN Realty Corporation Announces
New $150 Million Unsecured Line of Credit
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SIGNATURES
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.
JDN REALTY CORPORATION
By: /s/ William J. Kerley
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William J. Kerley
Chief Financial Officer
Date: May 30, 1997
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INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION
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99.1 Press Release: JDN Realty Corporation
Announces New $150 Million Unsecured
Line of Credit
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
CONTACT: WILLIAM J. KERLEY
CHIEF FINANCIAL OFFICER
(404) 262-3252
JDN REALTY CORPORATION ANNOUNCES NEW $150 MILLION
UNSECURED LINE OF CREDIT
ATLANTA, Georgia (May 28, 1997) - JDN Realty Corporation (NYSE: JDN) today
announced that it has closed on a new $150 million, unsecured line of credit,
which replaces the Company's existing $40 million, secured line of credit. The
line of credit is led by Wachovia Bank of Georgia, N.A. as agent, with PNC Bank,
Bankers Trust Company, Commerzbank, A.G., Mellon Bank and the Bank of Nova
Scotia as participants in the bank group. The new line of credit initially
bears interest at LIBOR plus 140 basis points, with possible further reductions
in cost upon the Company's attaining an investment-grade rating.
Commenting on the announcement, J. Donald Nichols, chairman and chief executive
officer, stated, "We are extremely pleased in making this announcement. It is
further evidence of the confidence that the investment community has in JDN.
This unsecured line of credit provides the Company with greater financial
flexibility to pursue additional development, redevelopment and acquisition
activities."
JDN Realty Corporation is a real estate company specializing in the development
and asset management of retail shopping centers anchored by value-oriented
retailers. Headquartered in Atlanta, Georgia, the Company owns and operates 53
properties, containing approximately 6.5 million square feet of gross leasable
area, located in ten states, primarily in the Southeast. The common stock of
JDN Realty Corporation is listed on the New York Stock Exchange under the symbol
JDN.
For additional information, visit JDN Realty Corporation's home page at:
http://www.irinfo.com/jdn
