Realty Income Successfully Prices $500 Million Offering of Senior Notes Due 2054
Realty Income (NYSE: O) has priced a public offering of $500 million in 5.375% senior unsecured notes due 2054. The notes were priced at 98.374% of the principal amount, yielding an effective semi-annual yield to maturity of 5.486%. The company plans to use the net proceeds for general corporate purposes, including debt repayment, property acquisitions, and potential business combinations. The offering is expected to close on August 26, 2024.
Realty Income, known as 'The Monthly Dividend Company®', is an S&P 500 company with a portfolio of 15,450 properties across the U.S. and Europe. The company has a track record of 650 consecutive monthly dividends and has increased its dividend for 30 consecutive years.
Realty Income (NYSE: O) ha prezzato un'offerta pubblica di 500 milioni di dollari in obbligazioni senior non garantite al 5,375% con scadenza nel 2054. Le obbligazioni sono state prezzate al 98,374% dell'importo nominale, offrendo un rendimento effettivo semestrale alla scadenza del 5,486%. L'azienda prevede di utilizzare i proventi netti per scopi aziendali generali, inclusi il rimborso del debito, acquisizioni immobiliari e potenziali fusioni aziendali. Si prevede che l'offerta si concluda il 26 agosto 2024.
Realty Income, conosciuta come 'The Monthly Dividend Company®', è una società dell'S&P 500 con un portafoglio di 15.450 proprietà negli Stati Uniti e in Europa. L'azienda ha un track record di 650 dividendi mensili consecutivi e ha aumentato il suo dividendo per 30 anni consecutivi.
Realty Income (NYSE: O) ha fijado una oferta pública de 500 millones de dólares en notas séniores no aseguradas al 5,375% con vencimiento en 2054. Las notas se fijaron al 98,374% del monto principal, generando un rendimiento efectivo semestral al vencimiento del 5,486%. La empresa planea utilizar los ingresos netos para fines corporativos generales, incluyendo la amortización de deuda, adquisiciones de propiedades y potenciales fusiones empresariales. Se espera que la oferta cierre el 26 de agosto de 2024.
Realty Income, conocida como 'The Monthly Dividend Company®', es una empresa del S&P 500 con un portafolio de 15,450 propiedades en Estados Unidos y Europa. La compañía tiene un historial de 650 dividendos mensuales consecutivos y ha incrementado su dividendo durante 30 años consecutivos.
Realty Income (NYSE: O)는 2054년 만기인 5.375%의 고위험 무담보 채권 5억 달러의 공개 모집을 가격 책정했습니다. 이 채권은 원금의 98.374%에 가격이 책정되어, 만기 시 효과적인 반기 수익률은 5.486%입니다. 회사는 일반적인 기업 용도로 순수익을 사용할 계획이며, 이는 부채 상환, 부동산 인수 및 잠재적인 사업 결합을 포함합니다. 이번 모집은 2024년 8월 26일에 종료될 예정입니다.
'The Monthly Dividend Company®'로 알려진 Realty Income은 미국과 유럽 전역에 15,450개의 자산을 보유한 S&P 500 회사입니다. 이 회사는 650회의 연속 월배당을 기록했으며, 30년 연속으로 배당금을 인상해왔습니다.
Realty Income (NYSE: O) a fixé une offre publique de 500 millions de dollars en obligations non sécurisées senior à 5,375% d'échéance en 2054. Les obligations ont été fixées à 98,374% du montant principal, offrant un rendement effectif semestriel jusqu'à l'échéance de 5,486%. La société prévoit d'utiliser les produits nets pour des fins corporatives générales, y compris le remboursement de la dette, les acquisitions de biens immobiliers et les fusions d'entreprises potentielles. L'offre devrait se clôturer le 26 août 2024.
Realty Income, connue sous le nom de 'The Monthly Dividend Company®', est une société du S&P 500 avec un portefeuille de 15 450 propriétés aux États-Unis et en Europe. L'entreprise affiche un bilan de 650 dividendes mensuels consécutifs et a augmenté son dividende pendant 30 années consécutives.
Realty Income (NYSE: O) hat eine öffentliche Emission von 500 Millionen US-Dollar in unbesicherten vorrangigen Anleihen mit 5,375% fällig im Jahr 2054 festgesetzt. Die Anleihen wurden zu 98,374% des Nennbetrags angeboten, was eine effektive halbjährliche Rendite bis zur Fälligkeit von 5,486% ergibt. Das Unternehmen plant, die Nettoerlöse für allgemeine Unternehmenszwecke zu verwenden, einschließlich der Rückzahlung von Schulden, Immobilienankäufen und potenziellen Unternehmenszusammenschlüssen. Die Emission wird voraussichtlich am 26. August 2024 abgeschlossen sein.
Realty Income, bekannt als 'The Monthly Dividend Company®', ist ein S&P 500-Unternehmen mit einem Portfolio von 15.450 Immobilien in den USA und Europa. Das Unternehmen hat eine Erfolgsbilanz von 650 aufeinanderfolgenden Monatsdividenden und hat seine Dividende 30 Jahre in Folge erhöht.
- Successful pricing of $500 million senior unsecured notes offering
- Effective semi-annual yield to maturity of 5.486%
- Proceeds to be used for debt repayment, property acquisitions, and potential business growth
- Portfolio of 15,450 properties across multiple countries
- 650 consecutive monthly dividends paid
- 30 consecutive years of dividend increases
- Potential dilution of shareholder value due to new debt issuance
- Increased long-term debt obligations with notes due in 2054
Insights
Realty Income's $500 million senior notes offering at
This debt offering by Realty Income demonstrates confidence in their long-term business model. The 30-year maturity aligns with the company's strategy of owning long-term, net-leased properties. With a portfolio of 15,450 properties across multiple countries, this capital raise supports their global expansion plans. The ability to issue long-term debt at these rates reflects market trust in Realty Income's business model and credit quality. However, the
Realty Income's debt offering is well-timed, capitalizing on the current interest rate environment before potential future hikes. The $500 million raise provides a substantial war chest for opportunistic investments in a potentially softening real estate market. The company's status as a Dividend Aristocrat adds credibility to this offering. However, the
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 revolving credit facility and commercial paper programs), foreign currency swaps or other hedging instruments, the development, redevelopment and acquisition of additional properties, acquisition or business combination transactions, redemptions of Realty Income's outstanding preferred stock, and the expansion and improvement of certain properties in our portfolio.
This offering is expected to close on August 26, 2024, subject to the satisfaction of customary closing conditions.
The active joint book-running managers for the offering are Barclays, J.P. Morgan, RBC Capital Markets, TD Securities, and Wells Fargo Securities.
A copy of the prospectus supplement and prospectus, when available, related to this offering may be obtained by contacting: Barclays Capital Inc., c/o Broadridge Financial Solutions 1155 Long Island Avenue,
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 (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies. Founded in 1969, we invest in diversified commercial real estate and have a portfolio of 15,450 properties in all 50 U.S. states, the
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 our business and portfolio (including our growth strategies and our intention to acquire or dispose of properties including geographies, timing, partners, clients and terms); re-leases, re-development and speculative development of properties and expenditures related thereto; future operations and results; the announcement of operating results, strategy, plans, and the intentions of management; settlement of shares of common stock sold pursuant to forward sale confirmations under our at-the-market program; dividends, including the amount, timing and payment of dividends related thereto; and trends in our business, including trends in the market for long-term leases of freestanding, single-client properties. 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, our continued qualification as a real estate investment trust; general domestic and foreign business, 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 (including the terms and partners of such 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, partnerships and other arrangements which may limit control of the underlying investments; epidemics or pandemics, measures taken to limit their spread, the impacts on us, our business, our clients, 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; the anticipated benefits as a result of our merger with Spirit Realty Capital, Inc.; 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
FAQ
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