trending Market Intelligence /marketintelligence/en/news-insights/trending/vYNOWj46c5tl8v2deQR_SA2 content esgSubNav
In This List

Kimco Realty prices $350M notes offering

Blog

Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends

Blog

Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends

Blog

Understanding Loss Given Default A Review of Three Approaches

Blog

Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends


Kimco Realty prices $350M notes offering

Kimco Realty Corp. priced its public offering of $350 million of 3.70% notes due Oct. 1, 2049, with an effective yield of 3.765%.

The offering is expected to settle Aug. 29, subject to customary closing conditions.

The company aims to use the net proceeds to fund the full redemption of its 6.000% class I cumulative redeemable preferred stock, with an aggregate liquidation value of $175 million, and the full redemption of its 5.625% class K cumulative redeemable preferred stock, with an aggregate liquidation value of $175 million.

The company also intends to use the net proceeds from the offering for general corporate purposes, including to reduce borrowings.

Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Wells Fargo Securities LLC, BofA Securities Inc., RBC Capital Markets LLC and Jefferies LLC served as joint book-running managers for the notes.

Deutsche Bank Securities Inc. and Regions Securities LLC served as senior co-managers for the notes. BB&T Capital Markets, a division of BB&T Securities LLC; BNY Mellon Capital Markets LLC; Scotia Capital (USA) Inc.; and U.S. Bancorp Investments Inc. served as co-managers for the notes.