Deal Details

Realty Income Corporation (“Realty Income” or the “Company”) (NYSE: O), recently completed a private offering of $862.5 million aggregate principal amount of 3.50% convertible senior notes due 2029 (the “Offering” or the “notes”), which includes the full exercise of the $112.5 million option to purchase additional notes granted by Realty Income to the initial purchasers of the notes, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933.

Realty Income intends to use the net proceeds from this offering for general corporate purposes, which may include, among other things, the repayment or repurchase of Realty Income’s indebtedness, foreign currency swaps or other hedging instruments, the development, redevelopment and acquisition of additional properties, acquisition or business combination transactions and the expansion and improvement of certain properties in Realty Income's portfolio. Realty Income also intends to use approximately $101.9 million of the net proceeds from the Offering to repurchase approximately 1.8 million shares of its common stock concurrently with the pricing of the Offering in privately negotiated transactions.

Baird served as a co-manager on the Offering.