Kimco Realty Announces Redemption of its 4.30% Series E Medium-Term Notes due 2018
October 02 2017 - 4:15PM
Business Wire
Kimco Realty Corp. (NYSE:KIM), today announced that it will
redeem $89,012,000 aggregate principal amount of its 4.30% Series E
Medium-Term Notes due 2018 (CUSIP No. 49446X AA4) (the “Notes”),
representing all outstanding Notes, on November 1, 2017 (the
“Redemption Date”). The Notes were issued pursuant to an Indenture,
dated as of September 1, 1993 (the “Base Indenture”), between Kimco
and The Bank of New York Mellon (successor by merger to IBJ
Schroder Bank & Trust Company), as trustee (the “Trustee”), as
supplemented and amended by the First Supplemental Indenture, dated
as of August 4, 1994 (the “First Supplemental Indenture”), the
Second Supplemental Indenture, dated as of April 7, 1995 (the
“Second Supplemental Indenture”), the Third Supplemental Indenture,
dated as of June 2, 2006 (the “Third Supplemental Indenture”), and
the Fourth Supplemental Indenture, dated as of April 26, 2007 (the
“Fourth Supplemental Indenture”) and the Fifth Supplemental
Indenture, dated as of September 24, 2009 (the “Fifth Supplemental
Indenture” and, together with the Base Indenture, the First
Supplemental Indenture, the Second Supplemental Indenture, the
Third Supplemental Indenture and the Fourth Supplemental Indenture,
and as further amended or supplemented from time to time, the
“Indenture”), in each case entered into between Kimco and the
Trustee. Pursuant to the terms of the Notes, the redemption price
(the “Redemption Price”) shall be equal to $1,000 for each $1,000
principal amount of Notes to be redeemed plus accrued and unpaid
interest on the Notes to, but excluding, the Redemption Date.
A notice of redemption and related materials will be mailed to
holders of record of the Notes on October 2, 2017. Holders that
hold their Notes through the Depository Trust Company (“DTC”) will
be redeemed in accordance with the applicable procedures of DTC.
Questions relating to the notice of redemption and related
materials should be directed to The Bank of New York Mellon, in its
capacity as paying agent for the redemption of the Notes (the
“Paying Agent”), at 1-800-254-2826. The address of the Paying Agent
is The Bank of New York Mellon, 500 Ross Street, 12th Floor,
Pittsburgh, Pennsylvania 15262.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction. This press release does not constitute
a notice of redemption.
About Kimco
Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust
(REIT) headquartered in New Hyde Park, N.Y., that is one of North
America’s largest publicly traded owners and operators of open-air
shopping centers. As of June 30, 2017, the company owned interests
in 510 U.S. shopping centers comprising 84 million square feet of
leasable space primarily concentrated in the top major metropolitan
markets. Publicly traded on the NYSE since 1991, and included in
the S&P 500 Index, the company has specialized in shopping
center acquisitions, development and management for more than 50
years.
Safe Harbor Statement
The statements in this press release state the company’s and
management’s intentions, beliefs, expectations or projections of
the future and are forward-looking statements. It is important to
note that the company’s actual results could differ materially from
those projected in such forward-looking statements. Factors which
may cause actual results to differ materially from current
expectations include, but are not limited to, (i) general adverse
economic and local real estate conditions, (ii) the inability of
major tenants to continue paying their rent obligations due to
bankruptcy, insolvency or a general downturn in their business,
(iii) financing risks, such as the inability to obtain equity, debt
or other sources of financing or refinancing on favorable terms to
the company, (iv) the company’s ability to raise capital by selling
its assets, (v) changes in governmental laws and regulations, (vi)
the level and volatility of interest rates and foreign currency
exchange rates and management’s ability to estimate the impact
thereof, (vii) risks related to the company’s international
operations, (viii) the availability of suitable acquisition,
disposition, development and redevelopment opportunities, and risks
related to acquisitions not performing in accordance with the
company’s expectations, (ix) valuation and risks related to the
company’s joint venture and preferred equity investments, (x)
valuation of marketable securities and other investments, (xi)
increases in operating costs, (xii) changes in the dividend policy
for the company’s common stock, (xiii) the reduction in the
company’s income in the event of multiple lease terminations by
tenants or a failure by multiple tenants to occupy their premises
in a shopping center, (xiv) impairment charges and (xv)
unanticipated changes in the company’s intention or ability to
prepay certain debt prior to maturity and/or hold certain
securities until maturity. Additional information concerning
factors that could cause actual results to differ materially from
those forward-looking statements is contained from time to time in
the company’s Securities and Exchange Commission (“SEC”) filings.
Copies of each filing may be obtained from the company or the
SEC.
The company refers you to the documents filed by the company
from time to time with the SEC, specifically the section titled
“Risk Factors” in the company’s Annual Report on Form 10-K for the
year ended December 31, 2016, as may be updated or supplemented in
the company’s Quarterly Reports on Form 10-Q and the company’s
other filings with the SEC, which discuss these and other factors
that could adversely affect the company’s results. The company
disclaims any intention or obligation to update the forward-looking
statements, whether as a result of new information, future events
or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20171002006096/en/
Kimco Realty CorporationDavid F. Bujnicki, 1-866-831-4297Senior
Vice President, Investor Relations and
Strategydbujnicki@kimcorealty.com
Kimco Realty (NYSE:KIM)
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