Realty Income Expands Credit Facilities & CP Programs to $5.5B Each

Key Highlights

• Realty Income expanded its unsecured multicurrency revolving credit facilities to $5.5 billion, up from $4.0 billion.
• The revolving credit facilities consist of two $2.75 billion tranches, maturing in April 2029 and July 2030.
• The facilities include two six-month extension options for each tranche and an accordion feature to increase capacity up to $6.5 billion.
• The company also expanded its global unsecured commercial paper programs to a combined capacity of $5.5 billion, up from $3.0 billion.
• Borrowing rate for U.S. Dollar borrowings is 67.5 basis points over SOFR, with a commitment fee of 12.5 basis points, for an all-in drawn pricing of 80 basis points over SOFR.
• The all-in drawn pricing represents a reduction of 5.0 basis points from the prior revolving credit facilities.
• A total of 26 lenders are participating in the revolving credit facilities.