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 $1.0 billion.
The notes will be sold under customary terms in the United States commercial paper note market
and will rank pari passu with all of the company's other unsecured
senior indebtedness, including the company's outstanding senior
notes and borrowings under the company's revolving credit facility.
Note proceeds will be used for general corporate purposes. The
company expects to use its $3.0
billion revolving credit facility as a liquidity backstop
for the repayment of the notes issued under the commercial paper
program.
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