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Kimco closes $850M debt offering

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Kimco closes $850M debt offering

Kimco Realty Corp. completed an offering of $500 million of 3.300% notes due Feb. 1, 2025, and $350 million of 4.450% notes due Sept. 1, 2047.

The company had previously said that the net proceeds of the offering may be used to partially finance the consideration for Kimco's cash tender offer for its 4.30% series E medium-term notes due 2018. Any residual funds will go toward general business purposes, including to repay outstanding amounts under the company's revolving credit facility due March 2021.