Kimco Realty OP, LLC Announces Pricing of Upsized $525.0 Million Exchangeable Senior Notes Offering

JERICHO, N.Y., June 11, 2026 (GLOBE NEWSWIRE) -- Kimco Realty (NYSE: KIM) today announced that its operating subsidiary, Kimco Realty OP, LLC (“Kimco OP”), priced its offering of $525,000,000 aggregate principal amount of 3.50% exchangeable senior notes due 2031 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offering size was increased from the previously announced offering size of $500,000,000 aggregate principal amount of notes. Kimco Realty Corporation (“Kimco”) will fully and unconditionally guarantee the notes on a senior, unsecured basis. The issuance and sale of the notes are scheduled to settle on June 15, 2026, subject to customary closing conditions. Kimco OP also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $75,000,000 principal amount of notes.

The notes will be senior, unsecured obligations of Kimco OP and will accrue interest at a rate of 3.50% per annum, payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2026. The notes will mature on June 15, 2031, unless earlier repurchased, redeemed or exchanged. Before March 17, 2031, noteholders will have the right to exchange their notes only upon the occurrence of certain events. From and after March 17, 2031, noteholders may exchange their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Kimco OP will settle exchanges in cash and, if applicable, shares of Kimco’s common stock. The initial exchange rate is 30.9028 shares of Kimco’s common stock per $1,000 principal amount of notes, which represents an initial exchange price of approximately $32.36 per share of Kimco’s common stock. The initial exchange price represents a premium of approximately 27.5% over the last reported sale price of $25.38 per share of Kimco’s common stock on June 10, 2026. The exchange rate and exchange price will be subject to adjustment upon the occurrence of certain events.

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