Realty Income Prices $250 Mln Of Senior Notes

(RTTNews) - Realty Income Corp. (O) said Tuesday that it has priced $250 million of 4.125% senior unsecured notes due 2026.

The public offering price for the notes was 99.499% of the principal amount for an effective yield to maturity of 4.178%.

The offering is expected to close on September 23.

About $220 million of the net proceeds from the offering, plus the amount necessary to pay accrued but unpaid dividends on the company's Class E preferred stock, will be used to redeem all of the outstanding shares of the 6.75% Class E preferred stock. The remaining net proceeds will be used to repay a portion of the borrowings outstanding under the company's acquisition credit facility and, to the extent not used for the foregoing purposes, for other general corporate purposes and working capital, which may include acquisitions.