SAN DIEGO, Nov. 15, 2017 /PRNewswire/ -- Realty Income
Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, today announced that it intends to redeem all
$550 million in principal amount of
its outstanding 6.75% notes due August 15,
2019 (CUSIP No. 756109AK0) (the "Notes"). The redemption
date for the Notes will be December 15, 2017 (the
"Redemption Date").
The estimated redemption price for the Notes will be
$1,101.62 per $1,000 principal amount of the Notes,
representing 100% of the principal amount of the Notes being
redeemed, accrued and unpaid interest thereon to the Redemption
Date and a "make-whole" amount calculated in accordance with the
indenture governing the Notes.
As a result of the redemption, we expect to incur a charge of
approximately $43.5 million, or
approximately $0.15 per diluted
common share, to net income available to common stockholders and
NAREIT-defined Funds from Operations (FFO) in the fourth quarter of
2017. The charge will be excluded from Adjusted Funds from
Operations (AFFO).
Formal Notice of Redemption and Additional
Information
The Bank of New York Mellon Corporate Trust, the trustee and
paying agent for the Notes, is mailing a notice of redemption to
all registered holders of the Notes. Additional information
relating to the procedure for redemption may be obtained by mailing
The Bank of New York Mellon Corporate Trust, 2 North LaSalle
Street, Suite 700, Chicago, IL
60602, or by calling 312-827-8639.
About the Company
Realty Income, The Monthly Dividend
Company®, is an S&P 500 company dedicated to
providing shareholders with dependable monthly income. The company
is structured as a REIT, and its monthly dividends are supported by
the cash flow from over 5,000 real estate properties owned under
long-term lease agreements with regional and national commercial
tenants. To date, the company has declared 569 consecutive common
stock monthly dividends throughout its 48-year operating history
and increased the dividend 93 times since Realty Income's public
listing in 1994 (NYSE: O). The company has in-house acquisition,
portfolio management, asset management, credit research, real
estate research, legal, finance and accounting, information
technology, and capital markets capabilities. Additional
information about the company can be obtained from the corporate
website at www.realtyincome.com.
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SOURCE Realty Income Corporation