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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 20)
---------------------------
REGENCY CENTERS CORPORATION
(FORMERLY REGENCY REALTY CORPORATION)
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE 758849 10 3
(Title of class of securities) (CUSIP number)
BRIAN T. MCANANEY, ESQ.
GENERAL ELECTRIC CAPITAL CORPORATION
260 LONG RIDGE ROAD
STAMFORD, CONNECTICUT 06927
(203) 357-4000
(Name, address and telephone number of person authorized
to receive notices and communications)
JUNE 18, 2003
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
[ ].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. SEE Rule 13d-7(b) for other
parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934 (the "Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act. (However, see the
Notes.)
(Continued on following pages)
(Page 1 of 20 pages)
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1
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CUSIP number 758849 10 3 13D Page 2 of 20 Pages
---------------------------- ---------------------------------------- -------------------------------------------------
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------------------- ----------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: SECURITY CAPITAL GROUP INCORPORATED
S.S. OR I.R.S. IDENTIFICATION NO. 36-3692698
OF ABOVE PERSON:
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------- ----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: MARYLAND
------------------- -------- ------- -----------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 20,000,000 SHARES OF COMMON STOCK (SUBJECT TO
SHARES AGREEMENT REGARDING VOTING OF SHARES DESCRIBED
IN ITEM 4)
------- -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
------- -----------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 20,000,000 SHARES OF COMMON STOCK
REPORTING
------- -----------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------- -------------------------------------------------------------- -------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 20,000,000 SHARES OF COMMON STOCK
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 35.8%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------- ----------------------------------------------------------------------------------------------------------------
2
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CUSIP number 758849 10 3 13D Page 3 of 20 Pages
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------------------- ----------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: SC CAPITAL INCORPORATED
S.S. OR I.R.S. IDENTIFICATION NO. 74-2985638
OF ABOVE PERSON:
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------- ----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: NEVADA
------------------- -------- ------- -----------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 20,000,000 SHARES OF COMMON STOCK (SUBJECT TO
SHARES AGREEMENT REGARDING VOTING OF SHARES DESCRIBED
IN ITEM 4)
------- -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
------- -----------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 20,000,000 SHARES OF COMMON STOCK
REPORTING
------- -----------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 20,000,000 SHARES OF COMMON STOCK
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 35.8%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------- ----------------------------------------------------------------------------------------------------------------
3
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CUSIP number 758849 10 3 13D Page 4 of 20 Pages
---------------------------- ---------------------------------------- -------------------------------------------------
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------------------- ----------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: SC REALTY INCORPORATED
S.S. OR I.R.S. IDENTIFICATION NO. 88-0330184
OF ABOVE PERSON:
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------- ----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: NEVADA
------------------- -------- ------- -----------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 20,000,000 SHARES OF COMMON STOCK (SUBJECT TO
SHARES AGREEMENT REGARDING VOTING OF SHARES DESCRIBED
IN ITEM 4)
------- -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
------- -----------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 20,000,000 SHARES OF COMMON STOCK
REPORTING
------- -----------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 20,000,000 SHARES OF COMMON STOCK
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 35.8%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------- ----------------------------------------------------------------------------------------------------------------
4
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CUSIP number 758849 10 3 13D Page 5 of 20 Pages
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1 NAME OF REPORTING PERSON: SECURITY CAPITAL OPERATIONS
INCORPORATED
S.S. OR I.R.S. IDENTIFICATION NO. 52-2146697
OF ABOVE PERSON:
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------- ----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: MARYLAND
------------------- -------- ------- -----------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 20,000,000 SHARES OF COMMON STOCK (SUBJECT TO
SHARES AGREEMENT REGARDING VOTING OF SHARES DESCRIBED
IN ITEM 4)
------- -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
------- -----------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 20,000,000 SHARES OF COMMON STOCK
REPORTING
------- -----------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 20,000,000 SHARES OF COMMON STOCK
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 35.8%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------- ----------------------------------------------------------------------------------------------------------------
5
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CUSIP number 758849 10 3 13D Page 6 of 20 Pages
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1 NAME OF REPORTING PERSON: SECURITY CAPITAL SHOPPING MALL
BUSINESS TRUST
S.S. OR I.R.S. IDENTIFICATION NO. 74-2869169
OF ABOVE PERSON:
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------- ----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: MARYLAND
------------------- -------- ------- -----------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 20,000,000 SHARES OF COMMON STOCK (SUBJECT TO
SHARES AGREEMENT REGARDING VOTING OF SHARES DESCRIBED
IN ITEM 4)
------- -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
------- -----------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 20,000,000 SHARES OF COMMON STOCK
REPORTING
------- -----------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 20,000,000 SHARES OF COMMON STOCK
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 35.8%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------- ----------------------------------------------------------------------------------------------------------------
6
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CUSIP number 758849 10 3 13D Page 7 of 20 Pages
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1 NAME OF REPORTING PERSON: GE CAPITAL INTERNATIONAL HOLDINGS
CORPORATION
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------- ----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------- -------- ------- -----------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 20,000,000 SHARES OF COMMON STOCK (SUBJECT TO
SHARES AGREEMENT REGARDING VOTING OF SHARES DESCRIBED
IN ITEM 4)
------- -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
------- -----------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 20,000,000 SHARES OF COMMON STOCK
REPORTING
------- -----------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 20,000,000 SHARES OF COMMON STOCK
------------------- -------------------------------------------------------------------------------------------- -------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------- -------------------------------------------------------------------------------------------- -------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 35.8%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------- ----------------------------------------------------------------------------------------------------------------
7
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CUSIP number 758849 10 3 13D Page 8 of 20 Pages
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------------------- ----------------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS: GENERAL ELECTRIC CAPITAL
CORPORATION
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS:
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------- ----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------- -------- ------- -----------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 20,000,000 SHARES OF COMMON STOCK (SUBJECT TO
SHARES AGREEMENT REGARDING VOTING OF SHARES DESCRIBED
IN ITEM 4)
------- -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
------- -----------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 20,000,000 SHARES OF COMMON STOCK
REPORTING
------- -----------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 20,000,000 SHARES OF COMMON STOCK
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 35.8%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------- ----------------------------------------------------------------------------------------------------------------
8
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CUSIP number 758849 10 3 13D Page 9 of 20 Pages
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1 NAMES OF REPORTING PERSONS: GENERAL ELECTRIC CAPITAL SERVICES, INC.
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS:
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: NOT APPLICABLE
------------------- ----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------- -------- ------- -----------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------- -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: DISCLAIMED (SEE 11 BELOW)
OWNED BY
------- -----------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------- -----------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: DISCLAIMED (SEE 11 BELOW)
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: BENEFICIAL OWNERSHIP OF ALL SHARES DISCLAIMED BY
GENERAL ELECTRIC CAPITAL SERVICES, INC.
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): NOT APPLICABLE
(SEE 11 ABOVE)
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------- ----------------------------------------------------------------------------------------------------------------
9
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CUSIP number 758849 10 3 13D Page 10 of 20 Pages
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------------------- ----------------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS: GENERAL ELECTRIC COMPANY
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS:
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]
(b) [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: NOT APPLICABLE
------------------- ----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: NEW YORK
------------------- -------- ------- -----------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------- -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: DISCLAIMED (SEE 11 BELOW)
OWNED BY
------- -----------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------- -----------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: DISCLAIMED (SEE 11 BELOW)
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: BENEFICIAL OWNERSHIP OF ALL SHARES DISCLAIMED BY
GENERAL ELECTRIC COMPANY
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): NOT APPLICABLE
(SEE 11 ABOVE)
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------- ----------------------------------------------------------------------------------------------------------------
10
This Amendment No. 20 ("Amendment No. 20") is filed by Security Capital
Group Incorporated, a Maryland corporation ("Security Capital Group"), SC
Capital Incorporated, a Nevada corporation ("SC Capital") and a wholly owned
subsidiary of Security Capital Group, SC Realty Incorporated, a Nevada
corporation ("SC-Realty") and a wholly owned subsidiary of SC Capital, Security
Capital Operations Incorporated, a Maryland corporation ("Operations") and a
wholly owned subsidiary of SC-Realty, Security Capital Shopping Mall Business
Trust, a Maryland real estate investment trust and a subsidiary of Operations
(f/k/a Midwest Mixed-Use Realty Investors Trust) ("SC Shopping Mall Business
Trust" and, together with Security Capital Group, "Security Capital"), General
Electric Company, a New York corporation ("GE"), General Electric Capital
Services, Inc., a Delaware corporation ("GECS") and a wholly owned subsidiary of
GE, General Electric Capital Corporation, a Delaware corporation ("GECC") and a
wholly owned subsidiary of GECS, and GE Capital International Holdings
Corporation, a Delaware corporation ("GE Holdings" and, together with GE, GECS,
GECC, Security Capital Group, SC Capital, SC-Realty, Operations and SC Shopping
Mall Business Trust, the "Reporting Persons") and a wholly owned subsidiary of
GECC and the parent corporation of Security Capital Group.
This Amendment No. 20 amends the Schedule 13D originally filed by Security
Capital U.S. Realty and Security Capital Holdings S.A. on June 21, 1996 (as
previously amended, the "Schedule 13D"). This Amendment No. 20 relates to shares
of common stock, par value $0.01 per share ("Common Stock"), of Regency Centers
Corporation, a Florida corporation (f/k/a Regency Realty Corporation)
("Regency"). Capitalized terms used herein without definition shall have the
meanings ascribed thereto in the Schedule 13D, as amended.
Item 4. PURPOSE OF TRANSACTION
Item 4 is hereby amended and supplemented as follows:
As previously reported, Security Capital has decided to dispose of up to
34,273,236 shares of Common Stock, representing all of the shares of Common
Stock held of record by SC Shopping Mall Business Trust, through an underwritten
public offering (the "Secondary Offering"), forward sales contracts and the sale
of shares to Regency. On June 18, 2003, Security Capital agreed on the pricing
of the Secondary Offering and the forward sales contracts and entered into the
agreements and arrangements described in greater detail below. Closing of the
Secondary Offering and the previously reported sale of Common Stock to Regency
occurred on June 24, 2003.
Following the closing of the Secondary Offering, in which Security Capital
sold 9,666,356 shares of Common Stock, and the sale of 4,606,880 shares to
Regency at the public offering price of $32.56 per share, Security Capital now
owns 20,000,000 shares of Common Stock, all of which are subject to forward
sales contracts. Upon settlement of all of the forward sales contracts, which
provide for settlement at various times during the first half of 2004, or
earlier at the election of Security Capital, Security Capital will no longer own
any shares of Common Stock, unless Security Capital elects to settle one
11
or more of the forward contracts in cash rather than by delivery of shares of
Common Stock. Concurrently with the closing of the Secondary Offering and the
sale of Common Stock to Regency, the Stockholders Agreement between Security
Capital and Regency terminated in accordance with the previously reported
Agreement Relating to Disposition of Shares, dated as of June 11, 2003. Under
this agreement, Security Capital has agreed that, following the closing of the
Secondary Offering, it will vote any shares of Common Stock that are subject to
forward contracts and over which it has voting power in the same proportion as
shares are voted by other shareholders of Regency.
On June 18, 2003, Security Capital entered into an underwriting agreement
(the "Common Stock Underwriting Agreement") with the underwriters in the
Secondary Offering. Pursuant to the Common Stock Underwriting Agreement, and as
described in the prospectus relating to the Secondary Offering dated June 18,
2003, Security Capital sold 9,666,356 shares of Common Stock at $32.56 per share
(less underwriting discounts and expenses) on June 24, 2003.
In connection with the Secondary Offering, on June 18, 2003, Security
Capital also entered into forward contracts (the "Secondary Forward Contracts")
with each of Merrill Lynch International, JPMorgan Chase Bank and Wachovia Bank,
National Association (collectively, the "Secondary Forward Counterparties")
relating to an aggregate of 11,720,000 shares of Common Stock. The Secondary
Forward Contracts, which became effective on June 24, 2003, provide for
settlement on one or more settlement dates on or before June 24, 2004, to be
specified by Security Capital. At settlement, Security Capital will be entitled
to receive, in exchange for delivery of its shares of Regency Common Stock, a
cash payment equal to $31.1355 per share of Common Stock, plus interest and
minus the amount of dividends paid on the Common Stock with record dates between
June 18, 2003 and the settlement date (plus interest on those dividends). The
Secondary Forward Contracts also provide a cash settlement alternative, at
Security Capital's election. If Security Capital elects a cash settlement, then
Security Capital would retain its shares of Common Stock, and would either
receive a cash payment equal to the excess of the forward price described above
over an amount equal to the costs incurred by the Secondary Forward
Counterparties to purchase shares of Common Stock during a specified period
prior to the cash settlement payment date, if the forward price is greater than
such purchase costs, or would make a cash payment equal to the excess of such
purchase costs over the forward price, if such purchase costs are greater. The
Secondary Forward Contracts also provide for early termination and settlement
upon the occurrence of certain events.
On June 18, 2003, Security Capital Group also entered into an underwriting
agreement (the "SynDECS(SM) Underwriting Agreement") in connection with an
underwritten offering by Citigroup Global Markets Holdings Inc. of variable rate
exchangeable debt securities (the "SynDECS(SM) Offering") that are linked to
8,280,000 shares of Common Stock. In connection with the SynDECS(SM) Offering,
on June 18, 2003, Security Capital entered into master agreements for forward
sales transactions (the "SynDECS(SM) Forward Contracts") with each of Citibank,
N.A. and UBS AG, London
12
Branch (collectively, the "SynDECS(SM) Forward Counterparties"), under which the
parties, on June 24, 2003, entered into confirmations relating to forward sales
of an aggregate of 8,280,000 shares of Common Stock. The SynDECS(SM) Forward
Contracts provide for settlement on specified dates in the first half of 2004,
or another mutually acceptable date. At settlement, Security Capital will be
entitled to receive, in exchange for delivery of its shares of Regency Common
Stock, a cash payment equal to $30.92 per share of Common Stock, plus interest
and minus the amount of dividends paid on the Common Stock with record dates
between the closing of the SynDECS(SM) Offering and the settlement date (plus
interest on those dividends). The SynDECS(SM) Forward Contracts also provide a
cash settlement alternative, at Security Capital's election. If Security Capital
elects a cash settlement, then Security Capital would retain its shares of
Common Stock, and would either receive a cash payment equal to the excess of the
forward price described above over an amount equal to the costs incurred by the
SynDECS(SM) Forward Counterparties to purchase shares of Common Stock during a
specified period prior to the cash settlement payment date, if the forward price
is greater than such purchase costs, or would make a cash payment equal to the
excess of such purchase costs over the forward price, if such purchase costs are
greater. The SynDECS(SM) Forward Contracts also provide for early termination
and settlement upon the occurrence of certain events.
In connection with the Secondary Forward Contracts, Security Capital
entered into stock loan arrangements with each of the Secondary Forward
Counterparties (or an affiliate thereof), pursuant to which Security Capital has
agreed to lend to the Secondary Forward Counterparties (or affiliates thereof)
from time to time during the term of the applicable Secondary Forward Contract
some or all of the shares of Common Stock subject to the Secondary Forward
Contract. Security Capital also entered into a stock loan arrangement with
Citigroup Global Markets Inc. pursuant to which Security Capital has agreed to
lend to Citigroup Global Markets Inc. from time to time during the term of the
SynDECS(SM) Forward Contract with Citibank, N.A. up to 1,500,000 of the shares
of Common Stock subject to that forward contract.
Pursuant to both the Common Stock Underwriting Agreement and the
SynDECS(SM) Underwriting Agreement, Security Capital Group has agreed not to
offer, sell, contract to sell, pledge, or otherwise dispose of, or enter into
any transaction which is designed to, or might reasonably be expected to, result
in the disposition by Security Capital Group or any of its subsidiaries,
directly or indirectly, of any other shares of Common Stock or any securities
convertible into, or exercisable, or exchangeable for, shares of Common Stock,
or publicly announce an intention to effect any such transaction (other than the
Secondary Offering, the SynDECS(SM) Offering, the sale of stock to Regency under
the purchase agreement previously reported, and the related forward sales
transactions and related stock loan agreements), for a period of 90 days after
the date of the Common Stock Underwriting Agreement and the SynDECSSM
Underwriting Agreement.
Until delivery of the shares of Common Stock under the Secondary Forward
Contracts and the SynDECS(SM) Forward Contracts, Security Capital will continue
to
13
beneficially own and vote and receive dividends paid with respect to the
20,000,000 shares of Common Stock that are subject to those forward contracts.
As to any shares that are loaned under the stock loan arrangements described
above, Security Capital will waive the right to vote the loaned shares during
the term of any loan and will continue to receive any dividends paid thereon. As
previously reported, Security Capital has agreed that, following the closing of
the Secondary Offering, it will vote any shares of Common Stock that are subject
to forward contracts and over which it has voting power in the same proportion
as shares are voted by other shareholders of Regency. If Security Capital
decides to settle some or all of the Secondary Forward Contracts or SynDECS(SM)
Forward Contracts in cash, Security Capital will continue to beneficially own
the Common Stock subject to such forward contracts. In that event, under the
terms of the Agreement Relating to Disposition of Shares referred to above,
Security Capital has agreed that, within 100 trading days thereafter, it will
sell a sufficient number of shares so that it will no longer beneficially own
shares with a value in excess of 7% of the total value of Regency's capital
stock, which is the generally applicable ownership limit for Regency's Common
Stock.
The foregoing descriptions of the Common Stock Underwriting Agreement, the
Secondary Forward Contracts, the SynDECS(SM) Underwriting Agreement, the
SynDECS(SM) Forward Contracts, and the stock loan arrangements are qualified in
their entirety by reference to copies of the full agreements, which are included
herewith as Exhibits 35 through 46 and are specifically incorporated by
reference herein.
If Security Capital does not dispose of all of its shares pursuant to the
Secondary Forward Contracts and the SynDECS(SM) Forward Contracts, the Reporting
Persons will continue to review their investment in the Common Stock and
evaluate their plans and intentions as previously described in this Schedule 13D
(including, without limitation, Amendment No. 13 hereto). The Reporting Persons
reserve the right, based on all relevant factors, and consistent with their
contractual obligations, to change their investment intent with respect to
Regency at any time in the future, to dispose of all or a portion of their
remaining holdings of Common Stock, or to change their intention with respect to
any or all of the matters referred to in this Schedule 13D. Any action or
discussions taken in such connection will be subject to and conducted in
accordance with all applicable legal rules and contractual agreements to which
the Reporting Persons are subject or which otherwise apply to the purchase or
sale of Common Stock or the Reporting Persons' investment in Regency.
Item 5. INTEREST IN SECURITIES OF THE ISSUER
As described in Item 4 above, on June 24, 2003, Security Capital sold a
total of 14,273,236 shares of Common Stock in the transactions described in Item
4. Accordingly, the aggregate number of shares that the Reporting Persons
continue to beneficially own, with sole voting power and dispositive power, is
20,000,000, all of which are held of record by SC Shopping Mall Business Trust.
Under the Agreement Relating to Disposition of Shares referred to above,
Security Capital has agreed that,
14
following the closing of the Secondary Offering, it will vote any shares of
Common Stock that are subject to forward contracts and over which it has voting
power in the same proportion as shares are voted by other shareholders of
Regency.
Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
The descriptions of the contracts, arrangements, understandings and
relationships described above in the response to Item 4 are incorporated into
this Item.
Item 7. MATERIALS TO BE FILED AS EXHIBITS
Exhibit 34 Joint Press Release, dated June 19, 2003, issued by Security
Capital Group and Regency Centers Corporation.
Exhibit 35 Underwriting Agreement by and among Regency Centers
Corporation, Security Capital Group Incorporated, Citigroup
Global Markets Inc., Merrill Lynch International, Merrill
Lynch, Pierce, Fenner & Smith Incorporated, JPMorgan Chase
Bank and Wachovia Bank, National Association, dated June 18,
2003
Exhibit 36 Underwriting Agreement by and among Regency Centers
Corporation, Security Capital Group Incorporated, Citigroup
Global Markets Inc. and Merrill Lynch, Pierce, Fenner &
Smith Incorporated, dated June 18, 2003
Exhibit 37 Confirmation [of Forward Transaction], dated as of June 18,
2003, by and among Merrill Lynch International, Merrill
Lynch, Pierce, Fenner & Smith Incorporated, as agent and
Security Capital Shopping Mall Business Trust
Exhibit 38 Confirmation [of Forward Transaction], dated as of June 18,
2003, by and between Wachovia Securities, LLC as agent for
Wachovia Bank, National Association and Security Capital
Shopping Mall Business Trust
Exhibit 39 Confirmation [of Forward Transaction], dated as of June 18,
2003, by and among JP Morgan Chase Bank, London Branch, JP
Morgan Securities, as agent, and Security Capital Shopping
Mall Business Trust
Exhibit 40 Supplemental Securities Loan Agreement, dated as of June 18,
2003, by and between Merrill Lynch, Pierce, Fenner & Smith
15
Incorporated, Merrill Lynch International, UBS Paine Webber
Inc. and Security Capital Shopping Mall Business Trust
Exhibit 41 Supplemental Securities Loan Agreement, dated as of June 18,
2003, by and among Wachovia Bank, National Association, UBS
Paine Webber Inc. and Security Capital Shopping Mall
Business Trust
Exhibit 42 Supplemental Securities Loan Agreement, dated as of June 18,
2003, by and among JP Morgan Chase Bank, UBS Paine Webber
Inc. and Security Capital Shopping Mall Business Trust
Exhibit 43 Master Terms and Conditions for Forward Transactions, dated
as of June 18, 2003, by and between Citibank, N.A. and
Security Capital Shopping Mall Business Trust (with
Confirmation of transaction thereunder dated June 24, 2003)
Exhibit 44 Master Terms and Conditions for Forward Transactions, dated
as of June 18, 2003, by and between UBS AG, London Branch
and Security Capital Shopping Mall Business Trust (with
Confirmation of transaction thereunder dated June 24, 2003)
Exhibit 45 Supplemental Securities Loan Agreement, dated as of June 24,
2003, by and among Citigroup Global Markets Inc., UBS
Securities LLC, and Security Capital Shopping Mall Business
Trust
Exhibit 46 Securities Lending Agency Client Agreement, dated as of June
17, 2003, by and between UBS Securities LLC, and Security
Capital Shopping Mall Business Trust
16
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Schedule 13D is true, complete
and correct.
Date: June 25, 2003
GENERAL ELECTRIC COMPANY
By: /s/ KEVIN KORSH
-------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
GENERAL ELECTRIC CAPITAL SERVICES, INC.
By: /s/ KEVIN KORSH
-------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
GENERAL ELECTRIC CAPITAL CORPORATION
By: /s/ KEVIN KORSH
-------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
GE CAPITAL INTERNATIONAL HOLDINGS CORPORATION
By: /s/ KEVIN KORSH
-------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
SECURITY CAPITAL GROUP INCORPORATED
By: /s/ KEVIN KORSH
-------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
17
SC CAPITAL INCORPORATED
By: /s/ KEVIN KORSH
-------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
SC REALTY INCORPORATED
By: /s/ KEVIN KORSH
-------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
SECURITY CAPITAL OPERATIONS INCORPORATED
By: /s/ KEVIN KORSH
-------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
SECURITY CAPITAL SHOPPING MALL BUSINESS TRUST
By: /s/ KEVIN KORSH
-------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
18
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
Exhibit 34 Joint Press Release, dated June 19, 2003, issued by Security
Capital Group and Regency Centers Corporation.
Exhibit 35 Underwriting Agreement by and among Regency Centers
Corporation, Security Capital Group Incorporated, Citigroup
Global Markets Inc., Merrill Lynch International, Merrill
Lynch, Pierce, Fenner & Smith Incorporated, JPMorgan Chase
Bank and Wachovia Bank, National Association, dated June 18,
2003
Exhibit 36 Underwriting Agreement by and among Regency Centers
Corporation, Security Capital Group Incorporated, Citigroup
Global Markets Inc. and Merrill Lynch, Pierce, Fenner &
Smith Incorporated, dated June 18, 2003
Exhibit 37 Confirmation [of Forward Transaction], dated as of June 18,
2003, by and among Merrill Lynch International, Merrill
Lynch, Pierce, Fenner & Smith Incorporated, as agent and
Security Capital Shopping Mall Business Trust
Exhibit 38 Confirmation [of Forward Transaction], dated as of June 18,
2003, by and between Wachovia Securities, LLC as agent for
Wachovia Bank, National Association and Security Capital
Shopping Mall Business Trust
Exhibit 39 Confirmation [of Forward Transaction], dated as of June 18,
2003, by and among JP Morgan Chase Bank, London Branch, JP
Morgan Securities, as agent, and Security Capital Shopping
Mall Business Trust
Exhibit 40 Supplemental Securities Loan Agreement, dated as of June 18,
2003, by and between Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Merrill Lynch International, UBS Paine Webber
Inc. and Security Capital Shopping Mall Business Trust
Exhibit 41 Supplemental Securities Loan Agreement, dated as of June 18,
2003, by and among Wachovia Bank, National Association, UBS
Paine Webber Inc. and Security Capital Shopping Mall
Business Trust
19
Exhibit 42 Supplemental Securities Loan Agreement, dated as of June 18,
2003, by and among JP Morgan Chase Bank, UBS Paine Webber
Inc. and Security Capital Shopping Mall Business Trust
Exhibit 43 Master Terms and Conditions for Forward Transactions, dated
as of June 18, 2003, by and between Citibank, N.A. and
Security Capital Shopping Mall Business Trust (with
Confirmation of transaction thereunder dated June 24, 2003)
Exhibit 44 Master Terms and Conditions for Forward Transactions, dated
as of June 18, 2003, by and between UBS AG, London Branch
and Security Capital Shopping Mall Business Trust (with
Confirmation of transaction thereunder dated June 24, 2003)
Exhibit 45 Supplemental Securities Loan Agreement, dated as of June 24,
2003, by and among Citigroup Global Markets Inc., UBS
Securities LLC, and Security Capital Shopping Mall Business
Trust
Exhibit 46 Securities Lending Agency Client Agreement, dated as of June
17, 2003, by and between UBS Securities LLC, and Security
Capital Shopping Mall Business Trust
20