SAN DIEGO, July 6, 2020 /PRNewswire/ -- Realty Income
Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, today announced the pricing of a public
offering of $350 million of 3.25%
senior unsecured notes due January 15,
2031. The public offering price for the notes was 108.241%
of the principal amount for an effective yield to maturity of
2.341%. The net proceeds from this offering will be used to
increase the company's liquidity by repaying borrowings outstanding
under its $3.0 billion revolving
credit facility and, to the extent not used for that purpose, to
fund potential investment opportunities and for other general
corporate purposes. The notes offered will constitute a further
issuance of the company's 3.25% Notes due 2031, of which
$600 million aggregate principal
amount was issued on May 8, 2020.
This offering is expected to close on July
16, 2020, subject to the satisfaction of customary closing
conditions.
The active joint book-running managers for the offering are
Goldman Sachs & Co. LLC, Barclays Capital Inc., and Credit
Suisse Securities (USA) LLC.
A copy of the prospectus supplement and prospectus, when
available, related to this offering may be obtained by contacting:
Goldman Sachs & Co. LLC, Prospectus Department, 200 West
Street, New York, NY 10282,
telephone: (866) 471-2526 or facsimile: (212) 902-9316 or email:
prospectus-ny@ny.email.gs.com; Barclays, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847
or email: barclaysprospectus@broadridge.com; or . Credit Suisse,
Attention: Prospectus Department, 6933 Louis Stephens Drive,
Morrisville, NC 27560, telephone:
(800) 221-1037 or email: usa.prospectus@credit-suisse.com.
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.
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, domestic and foreign real estate conditions, tenant
financial health, the availability of capital to finance planned
growth, volatility and uncertainty in the credit markets and
broader financial markets, changes in foreign currency exchange
rates, property acquisitions and the timing of these acquisitions,
charges for property impairments, the effects of the COVID-19
pandemic and the measures taken to limit its impact, the effects of
pandemics or global outbreaks of contagious diseases or fear of
such outbreaks, the company's tenants' ability to adequately manage
its properties and fulfill their respective lease obligations to
the company, 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