Kimco Realty Issues $600M 3.50% Exchangeable Senior Notes due 2031

Kimco Realty OP, LLC, a subsidiary of Kimco Realty Corporation, issued $600 million in 3.50% Exchangeable Senior Notes due 2031. The notes, which include $75 million in Option Notes, are fully and unconditionally guaranteed by Kimco Realty. They will accrue interest semi-annually and mature on June 15, 2031. Noteholders can exchange their notes for cash or a combination of cash and common stock, with an initial exchange rate of 30.9028 shares per $1,000 principal amount, representing an initial exchange price of approximately $32.36 per share.