Kimco Realty Announces Redemption of Its 3.20% Senior Notes Due 2021

Nachrichtenquelle: Business Wire (engl.)
10.08.2020, 22:56  |  113   |   |   

Kimco Realty Corp. (NYSE: KIM) (“Kimco” or the “Company”), today announced that it will redeem $284,905,000.00 aggregate principal amount of its 3.20% Senior Notes due 2021 (CUSIP No. 49446R AL3) (the “Senior Notes”), representing all of the outstanding Senior Notes, on August 25, 2020 (the “Redemption Date”). The Senior Notes were issued pursuant to an Indenture, dated as of September 1, 1993 (the “Base Indenture”), between Kimco and The Bank of New York Mellon (as successor in interest to IBJ Schroder Bank & Trust Company), as trustee (the “Trustee”), as supplemented and amended by the First Supplemental Indenture, dated as of August 4, 1994 (the “First Supplemental Indenture”), the Second Supplemental Indenture, dated as of April 7, 1995 (the “Second Supplemental Indenture”), the Third Supplemental Indenture, dated as of June 2, 2006 (the “Third Supplemental Indenture”), the Fourth Supplemental Indenture, dated as of April 26, 2007 (the “Fourth Supplemental Indenture”), the Fifth Supplemental Indenture, dated as of September 24, 2009 (the “Fifth Supplemental Indenture”), the Sixth Supplemental Indenture, dated as of May 23, 2013 (the “Sixth Supplemental Indenture”) and the Seventh Supplemental Indenture, dated as of April 24, 2014 (together with the Base Indenture, the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture, the Fifth Supplemental Indenture and the Sixth Supplemental Indenture, the “Indenture”), in each case entered into between Kimco and the Trustee.

Pursuant to the terms of the Senior Notes, the redemption price (the “Redemption Price”) will be equal to $1,014.80 for each $1,000 principal amount of Senior Notes redeemed, calculated in accordance with the terms of the Indenture, plus accrued and unpaid interest to, but not including, the Redemption Date. The Company will incur a prepayment charge of approximately $4.2 million, which will impact Net Income and Funds From Operations during the third quarter of 2020.

A notice of redemption and related materials will be mailed to holders of record of the Senior Notes on August 10, 2020. Holders that hold their Senior Notes through the Depository Trust Company (“DTC”) will be redeemed in accordance with the applicable procedures of DTC. Questions relating to the notice of redemption and related materials should be directed to The Bank of New York Mellon, in its capacity as paying agent for the redemption of the Senior Notes (the “Paying Agent”), at 1-800-254-2826. The address of the Paying Agent is The Bank of New York Mellon, 500 Ross Street, 12th Floor, Pittsburgh, Pennsylvania 15262.

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