SAN
DIEGO, Aug. 19, 2024 /PRNewswire/ -- Realty
Income Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, today announced the pricing of a public
offering of $500 million of 5.375%
senior unsecured notes due 2054 (the "Notes"). The public offering
price for the Notes was 98.374% of the principal amount for an
effective semi-annual yield to maturity of 5.486%.
The net proceeds from this offering will be used for general
corporate purposes, which may include, among other things, the
repayment or repurchase of Realty Income's indebtedness (including
borrowings under Realty Income's revolving credit facility and
commercial paper programs), foreign currency swaps or other hedging
instruments, the development, redevelopment and acquisition of
additional properties, acquisition or business combination
transactions, redemptions of Realty Income's outstanding preferred
stock, and the expansion and improvement of certain properties in
our portfolio.
This offering is expected to close on August 26, 2024, subject to the satisfaction of
customary closing conditions.
The active joint book-running managers for the offering are
Barclays, J.P. Morgan, RBC Capital Markets, TD Securities, and
Wells Fargo Securities.
A copy of the prospectus supplement and prospectus, when
available, related to this offering may be obtained by contacting:
Barclays Capital Inc., c/o Broadridge Financial Solutions 1155 Long
Island Avenue, Edgewood, NY 11717,
barclaysprospectus@broadridge.com, 1-888-603-5847; J.P. Morgan
Securities LLC, 383 Madison Avenue, New
York, New York 10179, Attention: Investment Grade Syndicate
Desk, 3rd Floor, Facsimile: 212-834-6081; RBC Capital Markets, LLC,
200 Vesey Street, 8th Floor, New York,
NY 10281, Toll-Free Number: (866) 375-6829, Fax: (212)
428-6308, Email: rbcnyfixedincomeprospectus@rbccm.com, ATTN:
Syndicate Operations; TD Securities (USA) LLC, 1 Vanderbilt Avenue, 11th Floor,
New York, New York 10017,
Attention: DCM – Transaction Advisory, by telephone (toll free) at
1-855-495-9846; and Wells Fargo Securities, LLC, 608 2nd Avenue
South, Suite 1000, Minneapolis, MN
55402, Attn: WFS Customer Service, Email:
wfscustomerservice@wellsfargo.com, by telephone (toll free) at
1-800-645-3751.
These securities are offered pursuant to a Registration
Statement that has become effective under the Securities Act of
1933, as amended. These securities are only offered by means of the
prospectus included in the Registration Statement and the
prospectus supplement related to the offering. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any offer or sale of these
securities in any state or other jurisdiction where, or to any
person to whom, the offer, solicitation, or sale of these
securities would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction.
About Realty Income
Realty Income (NYSE: O), an S&P 500 company, is real estate
partner to the world's leading companies. Founded in 1969, we
invest in diversified commercial real estate and have a portfolio
of 15,450 properties in all 50 U.S. states, the U.K., and six other
countries in Europe. We are known
as "The Monthly Dividend Company®," and have a mission
to deliver stockholders dependable monthly dividends that grow over
time. Since our founding, we have declared 650 consecutive monthly
dividends and are a member of the S&P 500 Dividend
Aristocrats® index, having increased our dividend for
the last 30 consecutive years.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Exchange Act of 1934, as amended. When used in
this press release, the words "estimated," "anticipated," "expect,"
"believe," "intend," "continue," "should," "may," "likely,"
"plans," and similar expressions are intended to identify
forward-looking statements. Forward-looking statements include
discussions of our business and portfolio (including our growth
strategies and our intention to acquire or dispose of properties
including geographies, timing, partners, clients and terms);
re-leases, re-development and speculative development of properties
and expenditures related thereto; future operations and results;
the announcement of operating results, strategy, plans, and the
intentions of management; settlement of shares of common stock sold
pursuant to forward sale confirmations under our at-the-market
program; dividends, including the amount, timing and payment of
dividends related thereto; and trends in our business, including
trends in the market for long-term leases of freestanding,
single-client properties. Forward-looking statements are
subject to risks, uncertainties, and assumptions about us, which
may cause our actual future results to differ materially from
expected results. Some of the factors that could cause actual
results to differ materially are, among others, our continued
qualification as a real estate investment trust; general domestic
and foreign business, economic, or financial conditions;
competition; fluctuating interest and currency rates; inflation and
its impact on our clients and us; access to debt and equity capital
markets and other sources of funding (including the terms and
partners of such funding); continued volatility and uncertainty in
the credit markets and broader financial markets; other risks
inherent in the real estate business including our clients'
defaults under leases, increased client bankruptcies, potential
liability relating to environmental matters, illiquidity of real
estate investments, and potential damages from natural disasters;
impairments in the value of our real estate assets; changes in
domestic and foreign income tax laws and rates; our clients'
solvency; property ownership through joint ventures, partnerships
and other arrangements which may limit control of the underlying
investments; epidemics or pandemics, measures taken to limit their
spread, the impacts on us, our business, our clients, and the
economy generally; the loss of key personnel; the outcome of any
legal proceedings to which we are a party or which may occur in the
future; acts of terrorism and war; the anticipated benefits as a
result of our merger with Spirit Realty Capital, Inc.; and those
additional risks and factors discussed in our reports filed with
the U.S. Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on forward-looking
statements. Forward-looking statements are not guarantees of future
plans and performance and speak only as of the date of this press
release. Actual plans and operating results may differ materially
from what is expressed or forecasted in this press release. We do
not undertake any obligation to update forward-looking statements
or publicly release the results of any forward-looking statements
that may be made to reflect events or circumstances after the date
these statements were made.
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SOURCE Realty Income Corporation