Kimco Realty Announces Pricing of $500 Million Aggregate Principal Amount of 2.250% Notes due 2031
13 Settembre 2021 - 10:57PM
Business Wire
Kimco Realty Corp. (NYSE: KIM) today announced the pricing of
its public offering of $500 million aggregate principal amount of
2.250% notes due 2031 (the “notes”) with an effective yield of
2.301%, maturing December 1, 2031. The offering is expected to
settle on September 22, 2021, subject to the satisfaction of
customary closing conditions.
The company intends to use the net proceeds from the offering
for general corporate purposes, including, but not limited to,
repayment of borrowings under its unsecured revolving credit
facility, and funding for suitable acquisition and redevelopment
opportunities.
BofA Securities, Inc., PNC Capital Markets LLC, Truist
Securities, Inc., Wells Fargo Securities, LLC, BNP Paribas
Securities Corp. and J.P. Morgan Securities LLC served as joint
book-running managers for the notes. Citigroup Global Markets Inc.,
Regions Securities LLC and Morgan Stanley & Co. LLC served as
senior co-managers for the notes. Barclays Capital Inc., BNY Mellon
Capital Markets, LLC, BMO Capital Markets Corp., Deutsche Bank
Securities Inc., RBC Capital Markets, LLC, TD Securities (USA) LLC,
U.S. Bancorp Investments, Inc. and UBS Securities LLC served as
co-managers for the notes.
The offering of the notes is being 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 BofA
Securities, Inc. toll-free at 1-800-294-1322 or by email at
dg.prospectus_requests@bofa.com, PNC Capital Markets LLC toll-free
at 1-855-881-0697, Truist Securities, Inc. toll-free at
1-800-685-4786 and Wells Fargo Securities, LLC toll free at
1-800-645-3751. 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 such state or
other jurisdiction.
About Kimco
Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust
(REIT) headquartered in Jericho, N.Y. that is North America’s
largest publicly traded owner and operator of open-air,
grocery-anchored shopping centers and mixed-use assets. The
company’s portfolio is primarily concentrated in the first-ring
suburbs of the top major metropolitan markets, including those in
high barrier-to-entry coastal markets and rapidly expanding Sun
Belt cities, with a tenant mix focused on essential,
necessity-based goods and services that drive multiple shopping
trips per week. Kimco is also committed to leadership in
environmental, social and governance (ESG) issues and is a
recognized industry leader in these areas. Publicly traded on the
NYSE since 1991, and included in the S&P 500 Index, the company
has specialized in shopping center ownership, management,
acquisitions, and value enhancing redevelopment activities for more
than 60 years. As of June 30, 2021, the company owned interests in
398 U.S. shopping centers and mixed-use assets comprising 70
million square feet of gross leasable space.
Safe Harbor Statement
The statements in this news release reflect 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 and
management’s ability to estimate the impact of such changes, (vi)
the level and volatility of interest rates and management’s ability
to estimate the impact thereof, (vii) pandemics or other health
crises, such as COVID-19, (viii) the availability of suitable
acquisition, disposition, development and redevelopment
opportunities, and risks related to acquisitions not performing in
accordance with our expectations, (ix) the Company's failure to
realize the expected benefits of the acquisition of Weingarten
Realty Investors (“Weingarten”) (the “Merger”), (x) significant
transaction costs and/or unknown or inestimable liabilities related
to the Merger, (xi) the risk of shareholder litigation in
connection with the Merger, including any resulting expense, (xii)
the risk that Weingarten’s business will not be integrated
successfully or that such integration may be more difficult,
time-consuming, costly than expected, (xiii) risks related to
future opportunities and plans for the combined company, including
the uncertainty of expected future financial performance and
results of the combined company following completion of the Merger,
(xiv) the possibility that, if the Company does not achieve the
perceived benefits of the Merger as rapidly or to the extent
anticipated by financial analysts or investors, the market price of
the Company’s common stock could decline, (xv) valuation and risks
related to the Company’s joint venture and preferred equity
investments, (xvi) valuation of marketable securities and other
investments, including the shares of Albertsons Companies, Inc.
common stock held by the Company, (xvii) increases in operating
costs, (xviii) changes in the dividend policy for the Company’s
common and preferred stock and the Company’s ability to pay
dividends at current levels, (xix) the reduction in the Company’s
income in the event of multiple lease terminations by tenants or a
failure of multiple tenants to occupy their premises in a shopping
center, (xx) impairment charges, (xxi) unanticipated changes in the
Company’s intention or ability to prepay certain debt prior to
maturity and/or hold certain securities until maturity and (xxii)
the other risks and uncertainties identified under Item 1A, “Risk
Factors” in the Company’s Annual Report on Form 10-K for the
year-ended December 31, 2020, as supplemented by the risks and
uncertainties identified under Item 1A, “Risk Factors” in our
Quarterly Report on Form 10-Q for the quarter ended June 30, 2021,
and our subsequently filed reports with the SEC. Accordingly, there
is no assurance that the Company’s expectations will be realized.
The Company disclaims any intention or obligation to update the
forward-looking statements, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210913005845/en/
David F. Bujnicki Senior Vice President, Investor Relations and
Strategy Kimco Realty Corporation 1-866-831-4297
dbujnicki@kimcorealty.com
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