SAN DIEGO, May 17, 2019
/PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O),
The Monthly Dividend Company®, today announced that the
underwriters of its recent 11,000,000 share common stock offering
exercised their option to purchase an additional 1,650,000 shares
of common stock. As a result, net proceeds from the 12,650,000
share offering, after underwriting discounts and estimated offering
expenses payable by the company, are approximately
$845 million.
The company intends to use the net proceeds from the offering to
repay all or a portion of the borrowings outstanding under its
$3.0 billion unsecured revolving
credit facility and, to the extent not used for that purpose, to
fund potential investment opportunities and/or for other general
corporate purposes.
The underwriters for the offering are: BofA Merrill Lynch,
Morgan Stanley, Wells Fargo Securities, Credit Suisse, Goldman
Sachs & Co. LLC, J.P. Morgan, RBC Capital Markets, Barclays,
Citigroup, Jefferies, Mizuho Securities, and Stifel (joint
book-running managers), Baird, Regions Securities LLC, and UBS
Investment Bank (co-lead managers), BB&T Capital Markets, BTIG,
BMO Capital Markets, BNY Mellon Capital Markets, LLC, MUFG,
Scotiabank, and TD Securities (senior co-managers), Comerica
Securities, D.A. Davidson & Co., Janney
Montgomery Scott, Ladenburg Thalmann, Ramirez & Co.,
Inc., Raymond James, Evercore ISI,
and Moelis & Company (co-managers).
A prospectus supplement and accompanying prospectus related to
the public offering of the securities have been filed with the
Securities and Exchange Commission. Copies of the prospectus
supplement and prospectus may be obtained from BofA Merrill Lynch,
Attn: Prospectus Department, NC1-004-03-43, 200 North College
Street, 3rd Floor, Charlotte, NC
28255-0001 or email dg.prospectus_requests@baml.com; or Morgan
Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Floor,
New York, New York 10014; 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.
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 supplement
related to the offering and the related prospectus. 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.
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 and foreign 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 any 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