Kimco Realty Corporation Announces Pricing of Public Offering
JERICHO, N.Y., Sept. 12, 2024 (GLOBE NEWSWIRE) — Kimco Realty Corporation (NYSE: KIM) (the “Company”) today announced that its subsidiary, Kimco Realty OP, LLC (“Kimco OP” and, together with the Company, “Kimco”), has priced a public offering of $500 million aggregate principal amount of 4.850% notes due 2035 (the “notes”) with an effective yield of 4.873%, maturing March 1, 2035.
The notes will be fully and unconditionally guaranteed by the Company. The offering is expected to settle on September 16, 2024, subject to the satisfaction of customary closing conditions.
Kimco Realty Corporation has taken a significant step in securing funding for future endeavors by successfully pricing a public offering of $500 million in notes due 2035. With an effective yield of 4.873%, this offering provides Kimco with the necessary capital to fuel growth and drive business success in the years to come.
By fully and unconditionally guaranteeing the notes, Kimco demonstrates its commitment to financial stability and investor confidence. The offering, set to settle on September 16, 2024, marks a strategic move for the Company, positioning it for continued success in the ever-evolving real estate market.
How This Will Affect You
This offering by Kimco Realty Corporation may have a direct impact on individual investors who are considering investing in the Company’s notes. With a yield of 4.873%, the notes present an opportunity for investors to earn a competitive return on their investment over the long term. Additionally, the Company’s guarantee of the notes provides added security for investors, offering peace of mind in an unpredictable market.
How This Will Affect the World
Kimco Realty Corporation’s successful pricing of $500 million in notes due 2035 reflects a strong vote of confidence in the global real estate market. As a major player in the industry, Kimco’s move to secure funding for future growth speaks to the stability and potential for success in the real estate sector. This offering not only benefits Kimco and its investors, but it also contributes to the overall strength and resilience of the global economy.
Conclusion
In conclusion, Kimco Realty Corporation’s public offering of $500 million in notes due 2035 represents a strategic financial move that sets the Company on a path towards continued success and growth. With a strong yield and full guarantee, this offering not only benefits individual investors but also contributes to the stability and strength of the global real estate market. By securing funding for future endeavors, Kimco positions itself as a leader in the industry, driving business success and creating opportunities for long-term growth.
