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Realty Income Announces Pricing Of Upsized 8.5 Million Share Common Stock Offering To Fund Property Acquisitions

Stocks in this article: O

ESCONDIDO, Calif., Oct. 21, 2013 /PRNewswire/ -- Realty Income Corporation (Realty Income), The Monthly Dividend Company ®, (NYSE: O), today announced that a public offering of 8,500,000 shares of the company's common stock has been priced at a public offering price of $40.63 per share, and is expected to close October 25, 2013. Net proceeds from the offering, after underwriting discounts and estimated offering expenses payable by the company and assuming no exercise of the underwriters' overallotment option, will be approximately $329 million. The offering was upsized from an original amount of 6,500,000 shares to the final offering size of 8,500,000 shares. The company has also granted the underwriters a 30-day option to purchase up to 1,275,000 additional shares of common stock to cover overallotments, if any. All of the shares are being sold by the company.

(Logo: http://photos.prnewswire.com/prnh/20130507/MM09486LOGO)

The company expects to use the net proceeds from the offering to repay borrowings under its $1.0 billion acquisition credit facility, which were, and will be, used to fund real estate acquisitions.

The underwriters for the offering are: BofA Merrill Lynch, Morgan Stanley, Wells Fargo Securities, J.P. Morgan, Jefferies, RBC Capital Markets, and UBS Investment Bank (joint book-running managers), Baird, Citigroup, Credit Suisse, and Raymond James, (co-lead managers), BB&T Capital Markets, Piper Jaffray and Stifel Nicolaus Weisel (senior co-managers), and BNY Mellon Capital Markets, LLC and Ladenburg Thalmann (co-managers). 

A copy of the prospectus supplement and the related prospectus pertaining to the offering may be obtained from BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attn: Prospectus Department or email dg.prospectus_requests@baml.com; or Morgan Stanley, 180 Varick Street, 2 nd Floor, New York, New York, 10014, Attn: Prospectus Department, telephone 1.866.718.1649 (toll-free) or email: prospectus@morganstanley.com; or Wells Fargo Securities, Attn: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, telephone: 1.800.326.5897 or email: cmclientsupport@wellsfargo.com.

These securities are offered pursuant to a Registration Statement that has become effective under the Securities Act. These securities are only offered by means of the prospectus included in the Registration Statement and the preliminary prospectus supplement related to the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction where the offer, solicitation, or sale of these securities would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.   

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