Kimco Realty® Announces Pricing of $500 Million Aggregate Principal Amount of 5.300% Notes due 2036
JERICHO, N.Y., June 16, 2025 (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 5.300% notes due 2036 (the "notes") with an effective yield of 5.354%, maturing February 1, 2036. The notes will be fully and unconditionally guaranteed by the Company. The offering is expected to settle on June 26, 2025, subject to the satisfaction of customary closing conditions.
Kimco intends to use the net proceeds from the offering for general corporate purposes, including, but not limited to, repaying outstanding borrowings under its $2.0 billion unsecured revolving credit facility and funding for suitable acquisition, investment and redevelopment opportunities.
Wells Fargo Securities, LLC, BNP Paribas Securities Corp., PNC Capital Markets LLC, RBC Capital Markets, LLC, Truist Securities, Inc., Barclays Capital Inc., BMO Capital Markets Corp. and TD Securities (USA) LLC served as joint book-running managers in connection with the offering. BNY Mellon Capital Markets, LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC served as senior co-managers in connection with the offering. Morgan Stanley & Co. LLC, Samuel A. Ramirez & Company, Inc., Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc. served as co-managers in connection with the offering.
The offering of the notes is being made pursuant to an effective shelf registration statement, base prospectus and related prospectus supplement. Copies of the base prospectus and prospectus supplement, when available, may be obtained by contacting Wells Fargo Securities, LLC at 1-800-645-3751; BNP Paribas Securities Corp. at 1-800-854-5674; PNC Capital Markets LLC at 1-855-881-0697; RBC Capital Markets, LLC at 1-866-375-6829; or Truist Securities, Inc. at 1-800-685-4786. Investors may also obtain these documents for free by visiting EDGAR on the Securities and Exchange Commission's ("SEC") website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any ...
