Realty Income Corp. Files 8-K Detailing Debt and Preferred Stock

TL;DR

Realty Income dropped an 8-K detailing its preferred stock and a bunch of notes due out to 2042. Check the rates!

AI Summary

Realty Income Corp. filed an 8-K on August 20, 2024, reporting other events and financial statements. The filing details various debt instruments, including Series 6 Cumulative Redeemable Preferred Stock and multiple note series due between 2027 and 2042, with interest rates ranging from 1.125% to 6.000%.

Why It Matters

This filing provides transparency into Realty Income's capital structure and outstanding debt obligations, which is crucial for investors assessing the company's financial health and risk.

Risk Assessment

Risk Level: low — This is a routine filing providing an update on existing financial instruments and is not indicative of new or elevated risks.

Key Numbers

• 2027 — Maturity Year (Several note series mature in 2027.)
• 2042 — Maturity Year (The latest maturity date for notes listed in the filing.)
• 1.125% — Interest Rate (Lowest interest rate on listed notes.)
• 6.000% — Interest Rate (Highest interest rate on listed notes.)

Key Players & Entities

• Realty Income Corp. (company) — Filer of the 8-K report
• 0001104659-24-091306 (other) — Accession number for the filing
• 20240820 (date) — Filing date
• 1.125% (dollar_amount) — Interest rate for Notes due 2027
• 6.000% (dollar_amount) — Interest rate for Notes due 2039

FAQ

Key Financial Figures

• $0.01 — e On Which Registered Common Stock, $0.01 Par Value O New York Stock Exchange
• $500.0 million — d to issue and sell to the Underwriters $500.0 million aggregate principal amount of its 5.375

Filing Documents

• tm2421881d2_8k.htm (8-K) — 49KB
• tm2421881d2_ex1-1.htm (EX-1.1) — 270KB
• 0001104659-24-091306.txt ( ) — 644KB
• o-20240819.xsd (EX-101.SCH) — 5KB
• o-20240819_def.xml (EX-101.DEF) — 30KB
• o-20240819_lab.xml (EX-101.LAB) — 41KB
• o-20240819_pre.xml (EX-101.PRE) — 28KB
• tm2421881d2_8k_htm.xml (XML) — 14KB

01 Other Events

Item 8.01 Other Events On August 19, 2024, Realty Income Corporation (the "Company") entered into a purchase agreement with Barclays Capital Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, TD Securities (USA) LLC and Wells Fargo Securities, 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 $500.0 million aggregate principal amount of its 5.375% Notes due 2054. The offering is anticipated to close on August 26, 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 geographies, timing, partners, clients 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; settlement of shares of common stock sold pursuant to forward sale confirmations under our At the Market Program; dividends, including the amount, timing and payment of dividends related thereto; and trends in our business, including trends in the market for long term leases of freestanding, single client properties. Forward looking statements are subject to risks, uncertainties, and assumptions about the Company 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 (including the terms and partners of such funding); continued volatility and uncertainty in the credit markets and broader financial markets; other ri

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits 1.1 Purchase Agreement, dated August 19, 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: August 20, 2024 REALTY INCOME CORPORATION By: /s/ Bianca Martinez Bianca Martinez Senior Vice President, Associate General Counsel and Assistant Secretary