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Kimco Realty's cash tender offer receives valid tenders worth $211M

Kimco Realty Corp.'s cash purchase offer for its outstanding 4.30% series E medium-term notes due 2018 received valid tenders worth roughly $211 million before its expiration.

The withdrawal time of the offer was 5 p.m. ET Aug. 7. The validly tendered notes represent approximately 70.33% of the aggregate principal amount of the 2018 notes outstanding.

The company expects to accept all the notes validly tendered before the expiration time, and settlement is expected Aug. 10. Holders of the notes who validly tendered and did not withdraw their notes before the expiration time will be entitled to receive a consideration of $1,006.56 per $1,000 principal amount of accepted notes, along with accrued and unpaid interest up to but excluding the settlement date.