Realty Income Announces Closing of $862.5 Million Convertible Senior Notes Offering

Core Viewpoint - Realty Income Corporation has successfully closed a private offering of $862.5 million in convertible senior notes, which will be used for various corporate purposes, including debt repayment and property acquisitions [1][2]. Group 1: Offering Details - The offering consists of $862.5 million aggregate principal amount of 3.500% convertible senior notes due 2029, which includes a previously announced offering of $750 million and an additional $112.5 million option exercised by initial purchasers [1]. - The net proceeds from the offering are approximately $845.5 million after deducting discounts, commissions, and estimated offering expenses [2]. Group 2: Use of Proceeds - Realty Income plans to use the majority of the net proceeds for general corporate purposes, which may include repaying or repurchasing existing indebtedness, including $500 million of outstanding 5.050% senior notes due January 13, 2026 [2]. - Approximately $101.9 million of the net proceeds was used to repurchase about 1.8 million shares of common stock concurrently with the pricing of the offering [2]. Group 3: Company Overview - Realty Income, known as "The Monthly Dividend Company," is an S&P 500 company with a portfolio of over 15,500 properties across the U.S., the U.K., and seven other European countries [4]. - The company has a history of increasing dividends, with 133 dividend increases since its NYSE listing in 1994, and is recognized as a member of the S&P 500 Dividend Aristocrats index for over 30 consecutive years of dividend increases [4].