8-KOther EventsExhibits & Filings

REALTY INCOME CORP 8-K Report, Corporate Update (Apr 4, 2018)

Filed April 4, 2018For Securities:O

Summary

Realty Income Corporation (O) announced the successful closing of its offering of $500 million in aggregate principal amount of 3.875% Senior Notes due 2025. This offering, facilitated by a purchase agreement with several underwriters including Citigroup Global Markets Inc. and Barclays Capital Inc., closed on April 4, 2018. The company has also filed accompanying exhibits that detail the terms of the notes, including the Indenture, the form of the notes, and related legal opinions and consents. This debt issuance allows Realty Income to potentially refinance existing debt, fund future acquisitions, or for general corporate purposes. Investors should note the specific interest rate and maturity date of these new notes, which will impact the company's cost of capital and future financial obligations. The filing provides transparency on the terms and conditions of this significant financing event.

Key Highlights

  • 1Closed a $500 million offering of 3.875% Notes due 2025.
  • 2The offering closed on April 4, 2018.
  • 3The notes are senior notes with a fixed interest rate of 3.875%.
  • 4The issuance involved multiple underwriters, including Citigroup Global Markets Inc. and Barclays Capital Inc.
  • 5The filing includes the Indenture governing the notes and the specific form of the notes.
  • 6Legal opinions and consents from Venable LLP and Latham & Watkins LLP are filed as exhibits.

Frequently Asked Questions

While the specific use of proceeds is not detailed in this 8-K, companies typically issue debt to refinance existing debt, fund acquisitions, capital expenditures, or for general corporate purposes. Investors should refer to other company filings for more detailed information on the use of these funds.

The notes carry a fixed interest rate of 3.875% and mature in 2025.

The underwriters included Citigroup Global Markets Inc., Barclays Capital Inc., BNY Mellon Capital Markets, LLC, Mizuho Securities USA LLC, RBC Capital Markets, LLC, and U.S. Bancorp Investments, Inc., acting as representatives of the underwriters.

More details can be found in the filed exhibits, including the Indenture dated October 28, 1998, and the Form of 3.875% Note due 2025. Legal opinions from Venable LLP and Latham & Watkins LLP also provide supporting documentation.