Summary by Moomoo AI
Realty Income Corporation, known for its monthly dividend payments to shareholders, has announced the pricing of two series of notes on January 8, 2024. The offering includes 4.750% notes due in 2029 and 5.125% notes due in 2034, with principal amounts of $450 million and $800 million respectively. The notes are expected to settle on January 16, 2024. Anticipated ratings for these notes are A3 by Moody's and A- by S&P, both with stable outlooks. The net proceeds, estimated at approximately $1.229.7 million after underwriting discounts, are intended for general corporate purposes, including debt repayment, property acquisitions, and other business activities. The notes offer optional redemption terms and are governed by an indenture with BNY Mellon Capital Markets, LLC acting as trustee. The underwriting syndicate includes major financial institutions such as Wells Fargo Securities, BBVA Securities, and Citigroup Global Markets among others.