The REIT will use proceeds to repay debt and fund property acquisitions after pricing senior unsecured notes at a 3.716% yield.
Realty Income Corporation (O) priced €600 million in senior unsecured notes due July 30, 2032, at 99.518% of par, yielding 3.716% annually. The offering is set to close July 7, pending standard conditions, with proceeds earmarked for general corporate needs, including debt repayment and property investments.
The notes were marketed by Barclays, BNP PARIBAS, RBC Capital Markets, Santander, and Wells Fargo Securities. Realty Income, a REIT specializing in freestanding commercial properties, targets long-term net lease agreements with diversified tenants, including investment-grade operators.
No immediate market reaction was disclosed following the pricing announcement.