| Westfield America, Inc. | |||
| Ticker: | WEA | 11601 Wilshire Boulevard, 12th Floor | |
| Exchange: | New York Stock Exchange | Los Angeles, CA 90025 | |
| Industry: | Financial (SIC Code 6798) | ||
| Type of Shares: | Common Shares | Filing Date: | 3/4/97 | |
| U.S. Shares: | 15,300,000 | Offer Date: | 5/15/97 | |
| Non-U.S. Shares: | 2,700,000 | Filing Range: | $16.00 - $17.50 | |
| Primary Shares: | 18,000,000 | Offer Price: | $15.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.05 | |
| Offering Amount: | $301,500,000 | Selling: | $0.58 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 79,265,183 |
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Dean Witter Reynolds | Co-manager | (212) 392-3223 |
| Furman Selz Incorporated | Co-manager | (212) 309-8285 |
| Issuer's Law Firm: | Debevoise & Plimpton |
| Bank's Law Firm: | Skadden, Arps, Slate, Meagher & Flom |
| Auditor: | Ernst & Young |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $156.09 | Assets: | $1,344.57 | ||
| Net Income: | $27.30 | Curr Assets: | |||
| EPS: | Liabilities: | $826.04 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | $55.89 | Equity: | $518.53 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a Real Estate Investment Trust, owning, operating, leasing, developing, redeveloping and acquiring super regional and regional shopping centers and power centers located primarily in major metropolitan areas in the United States. Since 1994, subsidiaries of Westfield Holdings Limited have provided management, development and advisory services to the company. As such, the company has no employees. The company owns interests in a portfolio of 13 super regional and six regional shopping centers, three power centers, 13 separate department store properties which are net leased under financing leases to The May Department Stores Company and are not located at the Centers, and certain other real estate investments. The Centers are located in seven states in three geographically diverse regions in the United States. The company is organized and operated as a REIT and expects to continue to be operated as a REIT for Federal income tax purposes. The Centers contain approximately 19.2 million square feet of Total GLA, including 74 Anchors and approximately 2,500 Mall Stores, of which approximately 1.3 million square feet are currently under redevelopment and approximately 3.2 million square feet are planned for redevelopment over the next five years. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the Garden State Plaza Loan. purchase of the Westfield Holdings Warrants, repayment of debt, general corporate purposes including working capital and potential acquisitions. |