Kimco Realty Announces Pricing of $500M Notes due 2035

By Tamara Parker • Friday, September 13 15:13 • Permanent Link

Kimco Realty Corporation (NYSE: KIM) has announced the pricing of $500 million aggregate principal amount of 4.850% notes due 2035, with an effective yield of 4.873%, maturing on March 1, 2035.

The company plans to use the net proceeds from the offering for general corporate purposes, including funding for suitable investments and redevelopment opportunities, as well as the repayment of outstanding indebtedness at or in advance of maturity.

The offering is expected to settle on September 16, 2024, subject to the satisfaction of customary closing conditions.

The offering of the notes is being made pursuant to an effective shelf registration statement, base prospectus, and related prospectus supplement.

As of June 30, 2024, the company owned interests in 567 U.S. shopping centers and mixed-use assets comprising 101 million square feet of gross leasable space.

In connection with the offering, BofA Securities, Inc., Mizuho Securities USA LLC, Regions Securities LLC, U.S. Bancorp Investments, Inc., Scotia Capital (USA) Inc., BMO Capital Markets Corp., BNP Paribas Securities Corp., and Truist Securities, Inc. served as joint book-running managers. PNC Capital Markets LLC, RBC Capital Markets, LLC, and TD Securities (USA) LLC served as senior co-managers, while Barclays Capital Inc., BNY Mellon Capital Markets, LLC, Deutsche Bank Securities Inc., and Goldman Sachs & Co. LLC served as co-managers.

This press release does 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 in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Today the company's shares have moved 1.1% to a price of $23.91. If you want to know more, read the company's complete 8-K report here.

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