Kimco Realty Corp. Enters Material Definitive Agreement

TL;DR

Kimco just signed a big deal, new financial obligation incoming.

AI Summary

Kimco Realty Corp. entered into a material definitive agreement on July 19, 2024, related to a direct financial obligation. The filing details the creation of this obligation, which is a significant event for the company's financial structure. Further details regarding the nature and terms of this agreement are expected to be disclosed.

Why It Matters

This filing indicates a new financial commitment or obligation for Kimco Realty Corp., which could impact its balance sheet and future financial flexibility.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can introduce new risks related to debt, interest rates, and repayment terms.

Key Players & Entities

• KIMCO REALTY CORP (company) — Filer
• Kimco Realty OP, LLC (company) — Filer
• 0000898822-24-000006 (filing_id) — Accession Number
• 20240719 (date) — Filing Date

FAQ

Key Financial Figures

• $1.00 — umulative Redeemable, Preferred Stock , $1.00 par value per share. KIMprL NYSE D
• $300 million — owed an incremental principal amount of $300 million (the " New Term Loans ") pursuant to, a
• $500 million — ter giving effect to Amendment No. 2 is $500 million. The terms of the New Term Loans are t

Filing Documents

• kim8k071724.htm (8-K) — 46KB
• kim8k071724ex10-1.htm (EX-10.1) — 44KB
• kim8k071724ex99-1.htm (EX-99.1) — 21KB
• kimcologo.jpg (GRAPHIC) — 65KB
• 0000898822-24-000006.txt ( ) — 429KB
• kim-20240719.xsd (EX-101.SCH) — 6KB
• kim-20240719_def.xml (EX-101.DEF) — 21KB
• kim-20240719_lab.xml (EX-101.LAB) — 32KB
• kim-20240719_pre.xml (EX-101.PRE) — 23KB
• kim8k071724_htm.xml (XML) — 11KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Amendment to TD Bank Term Loan On July 17, 2024, Kimco Realty OP, LLC (" Kimco OP ") entered into an amendment agreement (" Amendment No. 2 ") together with Kimco Realty Corporation (" Kimco "), Toronto Dominion (Texas) LLC, as administrative agent, and certain lenders party thereto to that certain term loan agreement dated January 2, 2024 (as amended and modified from time to time, the " TD Credit Agreement "), among Kimco OP, TD Bank, N.A., as administrative agent, and the other parties party thereto. Kimco OP borrowed an incremental principal amount of $300 million (the " New Term Loans ") pursuant to, and subject to the terms and conditions set forth in, Amendment No. 2. The aggregate principal amount of loans outstanding pursuant to the TD Credit Agreement after giving effect to Amendment No. 2 is $500 million. The terms of the New Term Loans are the same as those applicable to the term loans outstanding under the TD Credit Agreement prior to giving effect to Amendment No. 2 (the " Original Term Loans ") as described in the Current Report on Form 8-K filed by Kimco OP and Kimco on January 3, 2024. The New Term Loans have the same maturity date as the Original Term Loans. Kimco has guaranteed Kimco OP's obligations under the TD Credit Agreement (including as amended by Amendment No. 2). The lenders party to Amendment No. 2 also allowed the replacement of the administrative agent party to the TD Credit Agreement from TD Bank, N.A. to Toronto Dominion (Texas) LLC. The foregoing description of Amendment No. 2 does not purport to be complete and is qualified in its entirety by reference to the full text of Amendment No. 2, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On July 17, 2024, Kimco issued a press release announcing Amendment No. 2. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information set forth in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the liabilities of that section. The information in this Item 7.01, including Exhibit 99.1, shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 10.1 Amendment No. 2, dated as of July 17, 2024, among Kimco OP, Toronto Dominion (Texas) LLC (successor to TD Bank, N.A.) as administrative agent and the lenders party thereto to the Term Loan Agreement, dated as of January 2, 2024, among Kimco OP, TD Bank, N.A., as administrative agent and the lenders party thereto * 99.1 Press Release, dated July 17, 2024, issued by Kimco Realty Corporation 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) * Schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. Kimco agrees to furnish supplementally to the SEC a copy of any omitted schedule upon request by the SEC.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. KIMCO REALTY CORPORATION Date: July 19, 2024 By: /s/ Glenn G. Cohen Name: Glenn G. Cohen Title: Chief Financial Officer KIMCO REALTY OP, LLC By: KIMCO REALTY CORPORATION, its Managing Member Date: July 19, 2024 By: /s/ Glenn G. Cohen Name: Glenn G. Cohen Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR