Realty Income Corporation (NYSE: O) intends to offer $750 million aggregate principal amount of convertible senior notes due 2029 in a private offering to qualified institutional buyers.
The notes will be senior, unsecured obligations, accrue interest semi-annually, and mature on January 15, 2029.
Proceeds will be used for general corporate purposes and potential share repurchases.
Convertible Senior Notes Offering
Realty Income intends to offer $750 million in convertible senior notes due 2029 to qualified institutional buyers.
Use of Proceeds
Net proceeds will be used for general corporate purposes, debt repayment, property development, and potential share repurchases.
Conversion Rate Determination
Interest rate, initial conversion rate, and other terms will be determined at the pricing of the offering.
- The offering aims to raise significant funds for Realty Income, providing financial flexibility for corporate activities and potential expansion.
- Potential share repurchases may impact the initial conversion price for the notes being offered.
Realty Income's proposed convertible senior notes offering reflects a strategic move to strengthen its financial position and support future growth opportunities.