SAN DIEGO, Feb. 27, 2017
/PRNewswire/ -- Realty Income Corporation (Realty Income,
NYSE: O), The Monthly Dividend Company®, today announced
that a public offering of 10,850,000 shares of the company's common
stock has been priced at a public offering price of $62.00 per share, and is expected to close
March 3, 2017. Net proceeds from the
offering, after underwriting discounts, will be approximately
$645.8 million. The offering was
upsized from an original amount of 8,000,000 shares to the final
offering size of 10,850,000 shares. The company has also granted
the underwriters a 30-day option to purchase up to 1,627,500
additional shares of common stock.
The company intends to use the net proceeds from the offering to
repay a portion of the borrowings outstanding under its
$2.0 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 Merrill Lynch,
Morgan Stanley, Wells Fargo Securities, Goldman, Sachs & Co.,
J.P. Morgan, RBC Capital Markets, UBS Investment Bank, Barclays,
Credit Suisse, and Mizuho Securities (joint book-running managers),
Baird, Citigroup, Jefferies, Raymond
James, and Stifel (co-lead managers), BB&T Capital
Markets (senior co-manager), and BNY Mellon Capital Markets, LLC,
BTIG, Comerica Securities, D.A.
Davidson & Co., Evercore ISI, Janney Montgomery Scott, Ladenburg Thalmann,
MUFG, Moelis & Company, Oppenheimer & Co., and Ramirez
& Co., Inc. (co-managers).
Copies of the prospectus supplement and prospectus, when
available, may be obtained from BofA Merrill Lynch, Attn:
Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd
floor, Charlotte, NC 28255-0001 or
email dg.prospectus_requests@baml.com; or Morgan Stanley, Attn:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or Wells Fargo
Securities, Attn: Equity Syndicate Department, 375 Park Avenue,
New York, New York 10152,
telephone: 1.800.326.5897 or email:
cmclientsupport@wellsfargo.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 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.
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,
local 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, property acquisitions and the timing of these
acquisitions, charges for property impairments, and the outcome of
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