Realty Income Corporation announced the closing of its $862.5 million convertible senior notes offering.
The net proceeds from the offering were approximately $845.5 million after discounts, commissions, and expenses deduction.
Majority of the net proceeds will be used for general corporate purposes, including debt repayment, acquiring properties, and business expansion.
Offering Details
$862.5 million aggregate principal amount of 3.500% convertible senior notes due 2029 closed successfully.
Net Proceeds
Approximately $845.5 million net proceeds after deductions to be used for various corporate purposes.
Stock Repurchase
$101.9 million used to repurchase approximately 1.8 million shares of common stock concurrently with the offering.
- Realty Income aims to utilize the proceeds for general corporate growth and financial flexibility.
- The successful closing of the offering indicates investor confidence in Realty Income's future prospects.
Realty Income's strategic move with the convertible notes offering signals a positive outlook for the company's expansion and financial stability in the market.