SAN DIEGO, Feb. 26, 2020 /PRNewswire/ -- Realty Income
Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, today announced that a public offering of
9,000,000 shares of the company's common stock has been priced at a
public offering price of $77.40 per
share and is expected to close March 2,
2020. Net proceeds from the offering, after underwriting
discounts and commissions, will be approximately $677 million. The company also granted the
underwriters a 30-day option to purchase up to 1,350,000 additional
shares of common stock.
The company intends to use the net proceeds from the offering to
repay 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 Securities, Morgan
Stanley, Wells Fargo Securities, RBC Capital Markets, Barclays,
Citigroup, Credit Suisse, Goldman Sachs & Co. LLC, Jefferies,
J.P. Morgan, Mizuho Securities, and Stifel (joint book-running
managers), Regions Securities LLC, TD Securities, and UBS
Investment Bank (co-lead managers), BTIG, SunTrust Robinson
Humphrey, Baird, BMO Capital Markets, BNY Mellon Capital Markets,
LLC, and Scotiabank (senior co-managers), Comerica Securities,
Ramirez & Co., Inc., D.A. Davidson & Co., Evercore ISI,
Janney Montgomery Scott, Ladenburg
Thalmann, Moelis & Company LLC, MUFG, and Raymond James (co-managers).
A prospectus supplement and accompanying prospectus related to
the public offering of the securities will be filed with the
Securities and Exchange Commission. Copies of the prospectus
supplement and prospectus, when available, may be obtained from
BofA Securities, Attn: Prospectus Department, NC1-004-03-43, 200
North College Street, 3rd floor, Charlotte, NC 28255-0001 or email:
dg.prospectus_requests@bofa.com; or Morgan Stanley, Attn:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or Wells Fargo
Securities, Attention: Equity Syndicate Department, 500 West 33rd
Street, New York, New York, 10001,
at (800) 326-5897 or email: cmclientsupport@wellsfargo.com; or RBC
Capital Markets, Attn: Equity Syndicate Department, 200 Vesey
Street, 8th Floor, New York, NY
10281, telephone: (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 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, domestic 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, changes in foreign currency exchange
rates, 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