Realty Income Announces $1.0 Billion Commercial Paper Program
Realty Income Corporation (NYSE: O) announced a new U.S. dollar-denominated unsecured commercial paper program, allowing the issuance of up to $1.0 billion in notes. These notes will rank equally with the company's existing unsecured senior debt. Funds raised will be used for general corporate purposes, backed by a $3.0 billion revolving credit facility. The notes will not be registered under the Securities Act, ensuring they cannot be sold in the U.S. without proper registration or exemption. The announcement includes forward-looking statements regarding potential risks affecting future results.
- Establishment of a commercial paper program enhances liquidity options.
- Ability to issue up to $1.0 billion may support growth and operational needs.
- Dependence on capital markets for funding poses risks, especially amid economic uncertainty.
- Forward-looking statements indicate potential volatility from economic conditions and tenant financial health.
SAN DIEGO, Aug. 21, 2020 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that it has established a U.S. dollar-denominated unsecured commercial paper program.
Under the terms of the program, the company may issue from time to time unsecured commercial paper notes up to a maximum aggregate amount outstanding of
The notes to be offered under the commercial paper note program have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes under the company's commercial paper note program.
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
FAQ
What is Realty Income's new commercial paper program?
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What is the backing for Realty Income's commercial paper program?
Are the notes issued under Realty Income's program registered?
