May 23, 2016 Comments Off on Realty Income Corp. Plans $385.8M Public Offering Views: 222 California, California News, San Diego, West

Realty Income Corp. Plans $385.8M Public Offering

San Diego-based Realty Income Corp. launched an underwritten public offering of 6.5 million shares of its common stock for expected gross proceeds of approximately $385.8 million. The offering is expected to close tomorrow.

Net proceeds, after underwriting and related expenses, are slated to repay borrowings under a $2 billion unsecured revolving credit facility, and also to fund potential future investments or address other general corporate purposes. Credit Suisse, Morgan Stanley and UBS Investment Bank are acting as joint book-running managers and underwriters for the offering.

The REIT oversees a nationwide portfolio of 4,600 retail, industrial and related commercial properties. It specializes in single-tenant buildings in the triple-net lease segment.

Read More at San Diego Business Journal

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