Kimco Realty Announces Pricing of $400 Million Aggregate Principal Amount of 1.900% Notes due 2028
Kimco Realty Corp. (NYSE: KIM) today announced the pricing of its public offering of $400 million aggregate principal amount of 1.900% notes due 2028 (the “notes”) with an effective yield of 1.964%, maturing March 1, 2028. The offering is expected to settle on August 24, 2020, subject to customary closing conditions.
The company intends to use the net proceeds from the offering to redeem all of its outstanding 3.20% Senior Notes due 2021 (of which approximately $284.9 million are outstanding) and for general corporate purposes.
BofA Securities, Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, U.S. Bancorp Investments, Inc., Mizuho Securities USA LLC and Wells Fargo Securities, LLC served as joint book-running managers for the notes. BMO Capital Markets Corp., J.P. Morgan Securities LLC and RBC Capital Markets, LLC served as senior co-managers for the notes. Barclays Capital Inc., BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC, Credit Suisse Securities (USA) LLC, Regions Securities LLC, Scotia Capital (USA) Inc., TD Securities (USA) LLC and Truist Securities, Inc. served as co-managers for the notes.
The offering of the notes is being made pursuant to an effective shelf registration statement, prospectus and related prospectus supplement. Copies of the prospectus supplement and the base prospectus, when available, may be obtained by contacting BofA Securities, Inc. at 200 North College Street, NC1-004-03-43 Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, toll-free at 1-800-294-1322 or at firstname.lastname@example.org; Citigroup Global Markets Inc. at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, toll-free at 1-800-831-9146 or at email@example.com; Morgan Stanley & Co. LLC at 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, telephone at 1-800-718-1649 or at firstname.lastname@example.org or U.S. Bancorp Investments, Inc. at 214 N. Tryon Street, 26th Floor, Charlotte, North Carolina 28202, telephone at 1-877-558-2607. Investors may also obtain these documents for free by visiting EDGAR on the Securities and Exchange Commission’s website at www.sec.gov.