SAN DIEGO, Oct. 1, 2015 /PRNewswire/ -- Realty Income
Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, today announced that a public offering of
10,000,000 shares of the company's common stock has been priced at
a public offering price of $46.88 per
share, and is expected to close October 7,
2015. Net proceeds from the offering, after underwriting
discounts, will be approximately $450
million. The company has also granted the underwriters a
30-day option to purchase up to 1,500,000 additional shares of
common stock.
The company expects to use the net proceeds from the offering to
repay borrowings under its $2.0
billion unsecured revolving credit facility and for other
general corporate purposes and working capital, which may include
acquisitions.
The underwriters for the offering are: BofA Merrill Lynch,
Morgan Stanley, Wells Fargo Securities, RBC Capital Markets, LLC,
Barclays Capital Inc., Goldman, Sachs & Co., J.P. Morgan
Securities LLC, and UBS Investment Bank (joint book-running
managers), Robert W. Baird & Co. Incorporated, Citigroup Global
Markets Inc., Credit Suisse Securities (USA) LLC, Jefferies LLC, Mizuho Securities,
Raymond James & Associates,
Inc., and Stifel, Nicolaus & Company, Incorporated (co-lead
managers), BB&T Capital Markets (senior co-manager), and BNY
Mellon Capital Markets, LLC, Comerica Securities, Inc., Mitsubishi
UFJ Securities (USA), Inc., Moelis
& Company, Piper Jaffray &
Co., and Ramirez & Co., Inc. (co-managers).
Copies of the prospectus supplement and accompanying base
prospectus related to the offering may be obtained, when available,
from BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway,
New York, New York 10038 or email:
dg.prospectus_requests@baml.com; or Morgan Stanley & Co. LLC,
Attn: Prospectus Department,180 Varick
Street, 2nd Floor, New York, New
York 10014; or Wells Fargo Securities, LLC, 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, 200 Vesey Street, 8th
Floor, New York, New York
10281-8098, telephone: 1.877.822.4089 or email:
equityprospectus@rbccm.com.
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 preliminary 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, 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.
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