Summary
Realty Income Corporation (O) filed an 8-K on November 3, 2006, reporting a material amendment to its existing Credit Agreement. Effective October 30, 2006, the First Amendment to the Credit Agreement, originally dated June 17, 2005, was executed. This amendment specifically addresses the company's investment capacity in Crest Net. The key update for investors is the increase in the permitted investment in Crest Net from $125 million to $150 million. This expansion of borrowing capacity suggests potential for further strategic acquisitions or development projects, particularly involving Crest Net, which may be a significant operational or investment platform for Realty Income.
Key Highlights
- 1Realty Income Corporation executed a First Amendment to its Credit Agreement on October 30, 2006.
- 2The Credit Agreement was originally dated June 17, 2005.
- 3The amendment increases the maximum permitted investment in Crest Net.
- 4The permitted investment in Crest Net was raised from $125 million to $150 million.
- 5This filing is an 8-K, reporting a material definitive agreement.