Company Website:
http://www.kimcorealty.com
NEW HYDE PARK, N.Y. -- (Business Wire)
Kimco Realty Corp. (NYSE:KIM) today announced the pricing of an
additional $150 million aggregate principal amount of its 4.25% Notes
due 2045 with an effective yield of 4.375%, maturing April 1, 2045. The
new notes constitute an additional issuance of, and form a single series
with, the $350 million aggregate principal amount of 4.25% Notes due
2045 issued on March 30, 2015. Upon consummation of the offering of new
notes, the aggregate principal amount outstanding of 4.25% Notes due
2045, including the offering of new notes, will be $500 million. All
outstanding notes will have a coupon of 4.25%, will trade
interchangeably as a single series and will mature on April 1, 2045. The
net proceeds from the offering will be used for general corporate
purposes, including to pre-fund near-term maturities, including a
portion of the $201.4 million of mortgage debt maturing during the
remainder of 2016 with a weighted average interest rate of 5.46%. The
offering is expected to settle on May 11, 2016, subject to customary
closing conditions.
The sole book-running manager for the offering is Jefferies LLC. The
offering was made pursuant to an effective shelf registration statement,
prospectus and related prospectus supplement. Copies of the prospectus
supplement and the base prospectus, when available, may be obtained by
contacting Jefferies LLC at Attention: Debt Capital Markets, 520 Madison
Avenue, 3rd Floor, New York, NY 10022; or by emailing DCMProspectuses@Jefferies.com;
or by calling 1-877-877-0696.
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 such state or other
jurisdiction.
About Kimco
Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT)
headquartered in New Hyde Park, N.Y., that is North America’s largest
publicly traded owner and operator of open-air shopping centers. As of
March 31, 2016, the company owned interests in 550 U.S. shopping centers
comprising 88 million square feet of leasable space across 36 states and
Puerto Rico. Publicly traded on the NYSE since 1991, and included in the
S&P 500 Index, the company has specialized in shopping center
acquisitions, development and management for more than 50 years. For
further information, please visit www.kimcorealty.com,
the company’s blog at blog.kimcorealty.com,
or follow Kimco on Twitter at www.twitter.com/kimcorealty.
Safe Harbor Statement
The statements in this press release state the company’s and
management’s intentions, beliefs, expectations or projections of the
future and are forward-looking statements. It is important to note that
the company’s actual results could differ materially from those
projected in such forward-looking statements. Factors which may cause
actual results to differ materially from current expectations include,
but are not limited to, (i) general adverse economic and local real
estate conditions, (ii) the inability of major tenants to continue
paying their rent obligations due to bankruptcy, insolvency or a general
downturn in their business, (iii) financing risks, such as the inability
to obtain equity, debt or other sources of financing or refinancing on
favorable terms to the company, (iv) the company’s ability to raise
capital by selling its assets, (v) changes in governmental laws and
regulations, (vi) the level and volatility of interest rates and foreign
currency exchange rates and managements’ ability to estimate the impact
thereof, (vii) risks related to the company’s international operations,
(viii) the availability of suitable acquisition, disposition,
development and redevelopment opportunities, and risks related to
acquisitions not performing in accordance with our expectations, (ix)
valuation and risks related to the company’s joint venture and preferred
equity investments, (x) valuation of marketable securities and other
investments, (xi) increases in operating costs, (xii) changes in the
dividend policy for the company’s common stock, (xiii) the reduction in
the company’s income in the event of multiple lease terminations by
tenants or a failure by multiple tenants to occupy their premises in a
shopping center, (xiv) impairment charges and (xv) unanticipated changes
in the company’s intention or ability to prepay certain debt prior to
maturity and/or hold certain securities until maturity. Additional
information concerning factors that could cause actual results to differ
materially from those forward-looking statements is contained from time
to time in the company’s SEC filings. Copies of each filing may be
obtained from the company or the SEC.
The company refers you to the documents filed by the company from time
to time with the SEC, specifically the section titled “Risk Factors” in
the prospectus supplement and prospectus relating to the re-opening of
the company’s 4.25% Notes due 2045 and in the company’s Annual Report on
Form 10-K for the year ended December 31, 2015, as may be updated or
supplemented in the company’s Quarterly Reports on Form 10-Q and the
company’s other filings with the SEC, which discuss these and other
factors that could adversely affect the company’s results. The company
disclaims any intention or obligation to update the forward-looking
statements, whether as a result of new information, future events or
otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160504006925/en/
Contacts:
Kimco Realty Corporation
David F. Bujnicki, 1-866-831-4297
Senior
Vice President, Investor Relations and Strategy
Source: Kimco Realty Corporation
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