Deal Details
Follow-On Offering
Summary
Baird served as a senior co-manager on this offering
About
Realty Income Corporation (NYSE: O) (“Realty Income” or the “Company”) recently completed a follow-on offering of 17,250,000 common shares at a price of $45.90 per share, generating gross proceeds of approximately $791.8 million. Realty Income intends to use the net proceeds from the offering to repay a portion of the borrowings associated with the Company’s recent acquisition of American Realty Capital Trust, Inc., for general corporate purposes and working capital.Realty Income is a publicly traded real estate company with the primary business objective of generating dependable monthly cash dividends from a consistent and predictable level of cash flow from operations. The Company’s dividends are supported by the cash flow from its portfolio of properties leased to commercial enterprises. The Company owns a diversified portfolio of 3,528 properties located in 49 states and Puerto Rico, with over 53.4 million square feet of leasable space leased to 202 different commercial enterprises doing business in 48 separate industries. Of the 3,528 properties in the portfolio, 3,510, or 99.5% were single-tenant leased properties. Realty Income is headquartered in Escondido, California.
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- Date
- March 2013
- Company
- Realty Income Corporation
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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