Realty Income Prices €1.3 Billion Dual-Tranche Offering of Euro-Denominated Senior Unsecured Notes

Core Viewpoint - Realty Income Corporation has announced a public offering of €650 million in senior unsecured notes with two different maturities, aiming to enhance its financial flexibility and support various corporate purposes [1][2]. Group 1: Offering Details - The company is offering €650 million of 3.375% senior unsecured notes due June 20, 2031, and €650 million of 3.875% senior unsecured notes due June 20, 2035 [1]. - The public offering price for the 2031 notes is set at 99.568% of the principal amount, yielding an effective annual yield to maturity of 3.456% [1]. - The public offering price for the 2035 notes is set at 99.552% of the principal amount, yielding an effective annual yield to maturity of 3.930% [1]. - The combined notes have a weighted average tenor of approximately 8.0 years and a weighted average annual yield to maturity of 3.693% [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for general corporate purposes, which may include repayment or repurchase of indebtedness, property development, and business acquisitions [2]. - Specific uses may involve repaying borrowings under revolving credit facilities, commercial paper programs, and hedging instruments [2]. Group 3: Closing and Management - The offering is expected to close on June 20, 2025, pending customary closing conditions [3]. - The active joint book-running managers for the offering include BNP PARIBAS, BBVA, Citigroup, RBC Capital Markets, and Wells Fargo Securities [3]. Group 4: Company Overview - Realty Income Corporation, known as "The Monthly Dividend Company®," is an S&P 500 company that invests in diversified commercial real estate [5]. - As of March 31, 2025, the company has a portfolio of over 15,600 properties across all 50 U.S. states, the U.K., and six other European countries [5]. - The company has a strong track record of declaring 660 consecutive monthly dividends and is recognized as a member of the S&P 500 Dividend Aristocrats® index for increasing dividends for 30 consecutive years [5].