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Realty Income redeems $550M of notes

Realty Income Corp. redeemed all $550 million of its outstanding 6.75% notes due Aug. 15, 2019.

The redemption price was $1,098.22 per $1,000 principal amount of the notes.

The company said it will realize a roughly $42.4 million charge to net income available to common stockholders and National Association of Real Estate Investment Trusts-defined funds from operations during the fourth quarter as a result of the redemption. The charge, which equates to about 15 cents per common share, will be excluded from adjusted FFO.