SAN DIEGO, CA (STL.News) Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that it has established a U.S. dollar-denominated unsecured commercial paper program.
Under the terms of the program, the company may issue from time to time unsecured commercial paper notes up to a maximum aggregate amount outstanding of $1.0 billion. The notes will be sold under customary terms in the United States commercial paper note market and will rank pari passu with all of the company’s other unsecured senior indebtedness, including the company’s outstanding senior notes and borrowings under the company’s revolving credit facility. Note proceeds will be used for general corporate purposes. The company expects to use its $3.0 billion revolving credit facility as a liquidity backstop for the repayment of the notes issued under the commercial paper program.
The notes to be offered under the commercial paper note program have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes under the company’s commercial paper note program.