SAN DIEGO, CA (STL.News) 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.
NOTE: this is NOT the complete release.