SAN
DIEGO, June 29, 2023 /PRNewswire/ -- Realty
Income Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, today announced the pricing of a public
offering of €550 million of 4.875% senior unsecured notes due
July 6, 2030 (the "2030 notes"), and
€550 million of 5.125% senior unsecured notes due July 6, 2034 (the "2034 notes"). The public
offering price for the 2030 Notes was 99.421% of the principal
amount for an effective annual yield to maturity of 4.975%, and the
public offering price for the 2034 Notes was 99.506% of the
principal amount for an effective annual yield to maturity of
5.185%. Combined, the notes have a weighted average tenor of
approximately 9.0 years and a weighted average annual yield to
maturity of 5.080%.
The net proceeds from this offering will be used for general
corporate purposes, which may include, among other things, the
repayment or repurchase of Realty Income's indebtedness (including
borrowings under Realty Income's $4.25
billion multi-currency revolving credit facility or Realty
Income's multi-currency commercial paper programs), foreign
currency or interest rate swaps or other hedging instruments, the
development and acquisition of additional properties and other
acquisition or business combination transactions, and the expansion
and improvement of certain properties in Realty Income's
portfolio.
This offering is expected to close on July 6, 2023, subject to the satisfaction of
customary closing conditions.
The active joint book-running managers for the offering are
Wells Fargo Securities, Barclays, BofA Securities, and J.P.
Morgan.
A copy of the prospectus supplement and prospectus, when
available, related to this offering may be obtained by contacting:
Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000,
Minneapolis, MN 55402, Attn: WFS
Customer Service, Email: wfscustomerservice@wellsfargo.com, by
telephone (toll free) at 1-800-645-3751, Barclays Capital Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, by
telephone: (888) 603-5847 or email:
barclaysprospectus@broadridge.com, BofA Securities, Inc.,
NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus
Department, Email: dg.prospectus_requests@bofa.com, by telephone
(toll free) at 1-800-294-1322, or J.P. Morgan, 25 Bank Street,
Canary Wharf, London E14 5JP,
United Kingdom, Attention: Head of
International Syndicate, by telephone at +44-207-134-2468.
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.
About Realty Income
Realty Income, The Monthly
Dividend Company®, is an S&P 500 company and member
of the S&P 500 Dividend Aristocrats® index. We
invest in people and places to deliver dependable monthly dividends
that increase over time. The company is structured as a REIT, and
its monthly dividends are supported by the cash flow from over
12,400 real estate properties primarily owned under long-term net
lease agreements with commercial clients. To date, the company has
declared 636 consecutive common stock monthly dividends
throughout its 54-year operating history and increased the dividend
121 times since Realty Income's public listing in 1994 (NYSE:
O).
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Exchange
Act of 1934, as amended. When used in this press release, the words
"estimated," "anticipated," "expect," "believe," "intend,"
"continue," "should," "may," "likely," "plans," and similar
expressions are intended to identify forward-looking statements.
Forward-looking statements include discussions of future operations
and results, our business and portfolio and the announcement of
plans and the intentions of management including the offering of
the notes, use of proceeds and the anticipated closing date.
Forward-looking statements are subject to risks, uncertainties, and
assumptions about us, which may cause our actual future results to
differ materially from expected results. Some of the factors that
could cause actual results to differ materially are, among others,
the ability to satisfy the conditions to closing of the proposed
transaction, and the timing thereof; our continued qualification as
a real estate investment trust; general domestic and foreign
business and economic or financial conditions; competition;
fluctuating interest and currency rates; inflation and its impact
on our clients and us; access to debt and equity capital markets
and other sources of funding; continued volatility and uncertainty
in the credit markets and broader financial markets; other risks
inherent in the real estate business including our clients'
defaults under leases, increased client bankruptcies, potential
liability relating to environmental matters, illiquidity of real
estate investments, and potential damages from natural disasters;
impairments in the value of our real estate assets; changes in
domestic and foreign income tax laws and rates; our clients'
solvency; property ownership through joint ventures and
partnerships which may limit control of the underlying investments;
the continued evolution of the COVID-19 pandemic or future
epidemics or pandemics, measures taken to limit their spread, the
impacts on us, our business, our clients (including those in the
theater and fitness industries), and the economy generally; the
loss of key personnel; the outcome of any legal proceedings to
which we are a party or which may occur in the future; acts of
terrorism and war; any effects of uncertainties regarding whether
the anticipated benefits or results of our merger with VEREIT, Inc.
in November 2021 will be achieved;
and those additional risks and factors discussed in our reports
filed with the U.S. Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on forward-looking
statements. Forward-looking statements are not guarantees of future
plans and performance and speak only as of the date of this press
release. Actual plans and operating results may differ materially
from what is expressed or forecasted in this press release. We do
not undertake any obligation to update forward-looking statements
or publicly release the results of any 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