ESCONDIDO, Calif., March 26, 2014 /PRNewswire/ -- Realty Income
Corporation (Realty Income), The Monthly Dividend
Company®, (NYSE: O), today announced that a public
offering of 12,000,000 shares of the company's common stock has
been priced at a public offering price of $39.96 per share, and is expected to close
April 1, 2014. Net proceeds from the
offering, after underwriting discounts and estimated offering
expenses payable by the company and assuming no exercise of the
underwriters' option, will be approximately $459.5 million. The offering was upsized from an
original amount of 10,500,000 shares to the final offering size of
12,000,000 shares. The company has also granted the underwriters a
30-day option to purchase up to 1,800,000 additional shares of
common stock. All of the shares are being sold by the company.
The company expects to use the net proceeds from the offering to
repay borrowings under its $1.5
billion acquisition credit facility, which were, and will
be, used to fund real estate acquisitions.
The underwriters for the offering are: BofA Merrill Lynch,
Morgan Stanley, Wells Fargo Securities, RBC Capital Markets, J.P.
Morgan, Jefferies and UBS Investment Bank (joint book-running
managers), Baird, Citigroup, Credit Suisse and Raymond James (co-lead managers), BB&T
Capital Markets, Piper Jaffray and
Stifel (senior co-managers), and BNY Mellon Capital Markets, LLC,
Janney Montgomery Scott, Ladenburg
Thalmann & Co. Inc., Mitsubishi UFJ Securities, Moelis &
Company and Oppenheimer & Co. (co-managers).
A copy of the prospectus supplement and the related prospectus
pertaining to the offering may be obtained from BofA Merrill Lynch,
222 Broadway, New York, New York
10038, Attn: Prospectus Department or email
dg.prospectus_requests@baml.com; or Morgan Stanley, 180 Varick
Street, 2nd Floor, New York,
New York, 10014, Attn: Prospectus Department; or Wells Fargo
Securities, Attn: Equity Syndicate Department, 375 Park Avenue,
New York, New York 10152,
telephone: 1.800.326.5897 or email: cmclientsupport@wellsfargo.com;
or RBC Capital Markets, LLC, Attn: Equity Syndicate, Three World
Financial Center, 200 Vesey St., 8th Floor, New York, NY 10281-8098, telephone:
1.877.822.4089.
These securities are offered pursuant to a Registration
Statement that has become effective under the Securities Act. 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
sale of these securities in any state or other jurisdiction where
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.
Forward-Looking Statements
Statements in this press release that are not strictly historical
are "forward-looking" statements. Forward-looking statements
involve known and unknown risks, which may cause the company's
actual future results to differ materially from expected results.
These risks include, among others, general economic conditions,
local real estate conditions, tenant financial health, the
availability of capital to finance planned growth, continued
volatility and uncertainty in the credit markets and broader
financial markets, property acquisitions and the timing of these
acquisitions, charges for property impairments, and the outcome of
legal proceedings to which the company is a party, as described in
the company's filings with the Securities and Exchange Commission.
Consequently, forward-looking statements should be regarded solely
as reflections of the company's current operating plans and
estimates. Actual operating results may differ materially from what
is expressed or forecast in this press release. The company
undertakes no obligation to publicly release the results of any
revisions to these 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