Single-tenant net-lease real estate investment trust Realty Income Corp. priced an offering of $500 million of 3.875% senior unsecured notes due 2025.
The net proceeds from the offering will be used to partially repay outstanding debt on the company's $2.0 billion revolving credit facility. The remaining funds will be used to finance potential investment opportunities and for other general business purposes.
The offering is expected to close April 4.
Citigroup, Barclays, BNY Mellon Capital Markets LLC, Mizuho Securities, RBC Capital Markets, US Bancorp, BofA Merrill Lynch, Credit Suisse, Goldman Sachs & Co. LLC, J.P. Morgan, Morgan Stanley, Regions Securities LLC, UBS Investment Bank and Wells Fargo Securities are the joint book-running managers for the offering.
BB&T Capital Markets, MUFG, PNC Capital Markets LLC and Stifel are acting as co-lead managers. Comerica Securities, Ramirez & Co. Inc. and Raymond James are serving as senior co-managers, while Academy Securities, Evercore ISI and Moelis & Co. are acting as co-managers for the offering.