Baird served as a co-lead manager on this offering
AboutRealty Income Corporation (“Realty Income” or the “Company”) (NYSE: O) recently completed a follow-on offering of 9,775,000 common shares at a price of $40.63 per share, generating gross proceeds of approximately $397.2 million. Realty Income intends to use the net proceeds from the offering to repay borrowings under its $1.0 billion acquisition credit facility, which were, and will be, used to fund real estate acquisitions. To the extent not used for the foregoing purpose, any remaining net proceeds will be used for general corporate purposes and working capital, which may include additional acquisitions.
Realty Income is a publicly traded real estate company that owns a diversified portfolio of nearly 3,700 properties located in 49 states and Puerto Rico. The Company’s primary business objective is to generate dependable monthly cash dividends from a consistent and predictable level of cash flow from operations. The Company’s dividends are supported by the cash flow from its portfolio of properties leased to commercial enterprises. Realty Income is headquartered in Escondido, California.
For additional information about this transaction, please contact:
- October 2013
- Realty Income Corporation
- Real Estate
- Target Location
- North America