SAN DIEGO, Jan. 6, 2023 /PRNewswire/ — Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that it has closed on a $1.0 billion multicurrency unsecured term loan. The loan initially matures in January 2024 and includes two twelve-month extensions that can be exercised at the company’s option.
Pursuant to the terms of the loan, the company’s current A3/A- credit ratings provide for a borrowing rate of 80.0 basis points over the applicable benchmark rate, which includes adjusted SOFR for US Dollar-denominated loans, adjusted SONIA for Sterling-denominated loans, and EURIBOR for Euro-denominated loans. In conjunction with closing, we executed one-year variable-to-fixed interest rate swaps which fix our per annum interest rate at 5.0% over the initial term.
A total of nine lenders are participating in the loan. Toronto Dominion (Texas) LLC is acting as the Administrative Agent. TD Securities (USA) LLC, The Bank of Nova Scotia, BofA Securities, Inc., JPMorgan Chase Bank, N.A., and Mizuho Bank, Ltd. are serving as Joint Bookrunners. TD Securities (USA), LLC, The Bank of Nova Scotia, BofA Securities, Inc., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., Regions Capital Markets, Truist Securities, Inc., and Banco Bilbao Vizcaya Argentaria, S.A. New York Branch are serving as Joint Lead Arrangers. Bank of America, N.A. and JPMorgan Chase Bank, N.A. are serving as Syndication Agents. The Bank of Nova Scotia, Mizuho Bank, Ltd.,…
