Realty Income Corporation has closed on a £900 million Sterling-denominated unsecured term loan.
The loan initially matures in January 2028, with a one twelve-month extension option.
Proceeds from the loan will be used to repay outstanding Sterling-denominated borrowings on the company's $4.0 billion multicurrency revolving credit facility.
Loan Details
Loan amount: £900 million; Maturity: January 2028 with extension option.
Borrowing Rate
80 basis points above the Sterling Overnight Index Average (SONIA) rate.
Interest Rate Swaps
Executed 2-year variable-to-fixed swaps fixing the interest rate at 4.3% over the initial term.
Lenders
Ten lenders participating, including Toronto Dominion (Texas) LLC as Administrative Agent and other major banks.
Company Mission
Realty Income aims to deliver dependable monthly dividends that increase over time, with 665 consecutive monthly dividends declared.
- The term loan addresses an upcoming maturity with a lower fixed rate to enhance financial flexibility.
- Realty Income's credit ratings and strategic partnerships support its global platform and growth initiatives.
Realty Income's successful closing of the £900 million Sterling-denominated term loan underlines its commitment to financial stability and growth. The company's mission to provide dependable dividends remains a key focus.