Kite Realty Group, L.P. (the Issuer) has launched an offering of $300 million in aggregate principal amount of exchangeable senior notes due 2032. The offering is being conducted as a private placement to qualified institutional buyers under Rule 144A. The notes will be exchangeable into cash and potentially common shares of Kite Realty Group Trust. The Issuer also granted an option to purchase an additional $45 million of notes. Net proceeds will be used for capped call transactions, repurchase of approximately $30 million of common shares, and repayment of $300 million of 4.00% senior unsecured notes due 2026.