Realty Income Updates Debt Instrument Details in 8-K Filing

TL;DR

**Realty Income just updated its debt info, showing various notes due from 2027 to 2042.**

AI Summary

Realty Income Corporation filed an 8-K on January 9, 2024, reporting an event on January 8, 2024, related to various notes with maturity dates ranging from 2027 to 2042 and interest rates from 1.125% to 6.000%. This filing indicates that the company is providing updated information regarding its outstanding debt instruments. For investors, this matters because it offers transparency into the company's long-term financial obligations and capital structure, which can influence its ability to fund future growth and maintain dividend payments.

Why It Matters

This filing provides a snapshot of Realty Income's existing debt, which is crucial for assessing its financial health and future interest payment obligations. Understanding these details helps investors evaluate the company's risk profile and its capacity for future investments.

Risk Assessment

Risk Level: low — This filing is informational, updating details on existing debt, and does not indicate new risks or significant changes to the company's financial position.

Analyst Insight

A smart investor would review the details of these debt instruments to understand Realty Income's long-term liabilities and interest expense commitments, which are key factors in evaluating the company's financial stability and dividend sustainability.

Key Numbers

• 1.125% — Lowest Interest Rate (for Notes Due 2027)
• 6.000% — Highest Interest Rate (for Notes Due 2039)
• 2027 — Earliest Maturity Year (for various notes)
• 2042 — Latest Maturity Year (for Notes Due 2042)

Key Players & Entities

• REALTY INCOME CORPORATION (company) — the registrant filing the 8-K
• January 8, 2024 (date) — date of earliest event reported
• January 9, 2024 (date) — date of filing
• 1.125% (dollar_amount) — interest rate for Notes Due 2027
• 1.875% (dollar_amount) — interest rate for Notes Due 2027
• 1.625% (dollar_amount) — interest rate for Notes Due 2030
• 4.875% (dollar_amount) — interest rate for Notes Due 2030
• 5.750% (dollar_amount) — interest rate for Notes Due 2031
• 1.750% (dollar_amount) — interest rate for Notes Due 2033
• 5.125% (dollar_amount) — interest rate for Notes Due 2034

FAQ

Key Financial Figures

• $0.01 — e On Which Registered Common Stock, $0.01 Par Value O New York Stock Exchange
• $450 million — d to issue and sell to the Underwriters $450 million aggregate principal amount of its 4.750
• $800 million — amount of its 4.750% Notes due 2029 and $800 million aggregate principal amount of its 5.125

Filing Documents

• tm242248d6_8k.htm (8-K) — 46KB
• tm242248d6_ex1-1.htm (EX-1.1) — 294KB
• 0001104659-24-002590.txt ( ) — 662KB
• o-20240108.xsd (EX-101.SCH) — 5KB
• o-20240108_def.xml (EX-101.DEF) — 29KB
• o-20240108_lab.xml (EX-101.LAB) — 43KB
• o-20240108_pre.xml (EX-101.PRE) — 28KB
• tm242248d6_8k_htm.xml (XML) — 12KB

01 Other Events

Item 8.01 Other Events On January 8, 2024, Realty Income Corporation (the "Company") entered into a purchase agreement with Wells Fargo Securities, LLC, BBVA Securities Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC and TD Securities (USA) LLC, as representatives (the "Representatives") of the underwriters listed therein (the "Underwriters"), pursuant to which the Company agreed to issue and sell to the Underwriters $450 million aggregate principal amount of its 4.750% Notes due 2029 and $800 million aggregate principal amount of its 5.125% Notes due 2034. The offering is anticipated to close on January 16, 2024, subject to the satisfaction of customary closing conditions.

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. When used herein, the words "estimated," "anticipated," "expect," "believe," "intend," "continue," "should," "may," "likely," "plans," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of our business and portfolio (including our growth strategies and our intention to acquire or dispose of properties including the timing and terms), re-leases, re-development and speculative development of properties and expenditures related thereto; future operations and results; the announcement of operating results, strategy, plans, and the intentions of management; trends in our business, including trends in the market for long-term net leases of freestanding, single-client properties; and statements regarding the anticipated or projected impact of our proposed merger with Spirit Realty Capital, Inc. ("Spirit"), if consummated, on our business, results of operations, financial condition or prospects. Forward-looking statements are subject to risks, uncertainties, and assumptions about us which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding; continued volatility and uncertainty in the credit markets and broader financial markets; other risks inherent in the real estate business including our clients' d

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits 1.1 Purchase Agreement, dated January 8, 2024 between the Representatives of the Underwriters and the Company. 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: January 9, 2024 REALTY INCOME CORPORATION By: /s/ Bianca Martinez Bianca Martinez Senior Vice President, Associate General Counsel and Assistant Secretary

View Full Filing

View this 8-K filing on SEC EDGAR