Realty Income Issues $862.5M in Convertible Senior Notes

Summary

Realty Income Corporation issued $862.5 million of 3.500% convertible senior notes due 2029 in a private offering. The notes can be converted into common stock at an initial rate of 14.4051 shares per $1,000 principal amount. The Company intends to use the net proceeds of approximately $845.5 million for general corporate purposes, which may include the repayment of debt and the acquisition of properties.