SAN DIEGO, Sept. 23, 2020 /PRNewswire/ -- Realty Income
Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, today announced the pricing of a public
offering of £400 million of 1.625% senior unsecured notes due
December 15, 2030. The public
offering price for the notes was 99.191% of the principal amount
for an effective annual yield to maturity of 1.712%.
The notes represent Realty Income's debut public issuance of
unsecured notes denominated in British Pound Sterling (GBP). The
net proceeds from this offering will be used to repay
GBP-denominated borrowings outstanding under the company's
$3.0 billion revolving credit
facility, to settle an outstanding GBP/USD foreign exchange swap
arrangement, and, to the extent not used for those purposes, to
fund potential investment opportunities and for other general
corporate purposes. The net proceeds from the swap settlement will
be used to repay outstanding commercial paper. This offering is
expected to close on October 1, 2020,
subject to the satisfaction of customary closing conditions.
The active joint book-running managers for the offering are
Barclays Bank PLC, Credit Suisse Securities (Europe) Limited, and Goldman Sachs & Co.
LLC.
A copy of the prospectus supplement and prospectus, when
available, related to this offering may be obtained by contacting:
Barclays, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717,
telephone: (888) 603-5847 or email:
barclaysprospectus@broadridge.com; Credit Suisse, Attention:
Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, telephone: (800)
221-1037 or email: usa.prospectus@credit-suisse.com; or Goldman
Sachs & Co. LLC, Attention: Prospectus Department, 200 West
Street, New York, New York 10282,
telephone: (866) 471-2526 or by emailing
prospectus-ny@ny.email.gs.com.
These securities are offered pursuant to a Registration
Statement that has become effective under the U.S. 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.
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
their 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 prospectus supplement and
the accompanying prospectus for this offering and the company's
other filings with the U.S .Securities and Exchange Commission that
are incorporated by reference in such prospectus supplement and
prospectus. 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