WASHINGTON (dpa-AFX) - Realty Income Corporation (O) on Tuesday announced the pricing of a $750 million private offering of 3.5% convertible senior notes due 2029.
The issuance and sale of the notes are expected to settle on January 8, 2026. Realty Income also granted the initial purchasers an option to buy up to an additional $112.5 million of notes.
The initial conversion rate is 14.4051 shares of common stock per $1,000 of notes, which represents an initial conversion price of approximately $69.42 per share. This represents a premium of about 20% to Realty Income's last reported stock price of $57.85 on January 5.
Realty Income shares closed at $57.85 on Monday, up 0.94%.
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