Loan & DebtJun 29, 2026, 06:07 AM
Realty Income Issues $800M Notes, Refreshes ATM Program
AI Summary
Realty Income Corporation announced significant capital raising and liquidity updates. The company issued $800.0 million in 4.750% senior unsecured notes due April 2033, alongside a cross-currency swap for €436 million. Additionally, Realty Income refreshed its at-the-market (ATM) program, enabling the potential sale of up to 150.0 million shares of common stock. As of June 25, 2026, the company reported approximately $4.01 billion in total available liquidity.
Key Highlights
- Issued $800.0 million of 4.750% senior unsecured notes due April 2033.
- The 2033 notes had an effective semi-annual yield to maturity of 5.047%.
- Executed a $500 million U.S. Dollar-to-Euro 7-year cross currency swap, yielding €436 million at a 4.16% blended coupon.
- Refreshed the at-the-market (ATM) program, allowing sale of up to 150.0 million shares of common stock.
- Total available liquidity as of June 25, 2026, was approximately $4.01 billion.
- Cash and cash equivalents stood at $242.4 million.
- Availability under credit facilities was $3,472.1 million.
- Unsettled ATM forwards totaled $2,056.8 million, offset by $1,759.8 million in commercial paper borrowings.
Price Impact
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