trending Market Intelligence /marketintelligence/en/news-insights/trending/C8Fj-clwEHdEPtLkYBCwOg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Kimco Realty prices $150M notes due 2045

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Kimco Realty prices $150M notes due 2045

Kimco Realty Corp.priced an additional $150 million aggregate principal amount of its 4.25% notesdue 2045 with an effective yield of 4.375% maturing April 1, 2045.

The company said the new notes constitute an additional issuanceof, and form a single series with, the $350 million aggregate principal amount of4.25% notes due 2045 issued in March2015.

Upon consummation of the new note offering, the aggregate principalamount outstanding of 4.25% notes due 2045, including the offering of new notes,will be $500 million. Subsequently, all outstanding notes will have a coupon of4.25%, will trade interchangeably as a single series and will mature April 1, 2045.

The company will use the net proceeds for general corporate purposes,including to pre-fund near-term maturities, including a part of the $201.4 millionof mortgage debt maturing during the remainder of 2016 with a weighted average interestrate of 5.46%.

The offering is expected to close May 11, subject to customaryclosing conditions.

Jefferies LLC is the sole book-running manager for the offering.