Realty Income Prices $800 Million Dual-Tranche Offering of Senior Unsecured Notes

Core Viewpoint - Realty Income Corporation has announced a public offering of $400 million in senior unsecured notes, with two series maturing in 2029 and 2033, aimed at financing various corporate purposes [1][2]. Group 1: Offering Details - The offering includes $400 million of 3.950% senior unsecured notes due February 1, 2029, and $400 million of 4.500% senior unsecured notes due February 1, 2033 [1]. - The public offering price for the 2029 notes was set at 99.412% of the principal amount, yielding an effective yield to maturity of 4.143%, while the 2033 notes were priced at 98.871% with a yield of 4.685% [1]. - The combined notes have a weighted average tenor of approximately 5.3 years and a weighted average yield to maturity of 4.414% [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for general corporate purposes, including repayment or repurchase of existing indebtedness, property development, and potential acquisitions [2]. - Specifically, the proceeds may address approximately $550 million of outstanding 4.625% notes due November 1, 2025, and support other financial instruments and property improvements [2]. Group 3: Closing and Management - The offering is expected to close on October 6, 2025, pending customary closing conditions [3]. - The active joint book-running managers for the offering include Wells Fargo Securities, Barclays, BofA Securities, Mizuho, and TD Securities [3]. Group 4: Company Overview - Realty Income Corporation, known as "The Monthly Dividend Company," is a real estate investment trust (REIT) with a portfolio of over 15,600 properties across the U.S., U.K., and seven other European countries [6]. - The company has a history of declaring 663 consecutive monthly dividends and is recognized as a member of the S&P 500 Dividend Aristocrats index for increasing dividends for over 30 consecutive years [6].