Summary
Realty Income Corporation (O) has provided an update on its capital raising, liquidity, and financing activities as of June 29, 2026. The company successfully issued $800.0 million in senior unsecured notes due April 2033 with a coupon rate of 4.750% and a yield to maturity of 5.047%. This issuance was complemented by a cross-currency swap, generating approximately €436 million in proceeds and a blended coupon rate of 4.16%. Furthermore, Realty Income has refreshed its at-the-market (ATM) program, allowing for the potential sale of up to 150.0 million shares of common stock to enhance financial flexibility. As of June 25, 2026, the company reported approximately $4.0 billion in total available liquidity, a substantial figure supported by cash, availability under credit facilities, and unsettled ATM forwards, partially offset by commercial paper borrowings. These actions collectively underscore the company's proactive approach to managing its capital structure and ensuring ample liquidity.
Key Highlights
- 1Issued $800.0 million of 4.750% senior unsecured notes due April 2033.
- 2Executed a $500 million U.S. Dollar-to-Euro cross currency swap, resulting in approximately €436 million in proceeds.
- 3Blended coupon rate on the notes, after the swap, is 4.16%.
- 4Replaced existing ATM program with a new one to potentially sell up to 150.0 million shares of common stock.
- 5Reported approximately $4.0 billion in total available liquidity as of June 25, 2026.
- 6Liquidity components include cash, credit facility availability, and unsettled ATM forwards, net of commercial paper borrowings.