ESCONDIDO, Calif., May 02 /PRNewswire/ -- Realty Income Corporation
(Realty Income), "The Monthly Dividend Company," (NYSE: O) today announced
that a public offering of 2,850,000 shares of the Company's common stock has
been priced at $27.80 per share and is expected to close on May 7, 2001. All
of the shares are being sold by the Company. A copy of the prospectus
relating to the offering may be obtained from the following managing
underwriters: Merrill Lynch & Co. (book running manager), Salomon Smith
Barney, Credit Suisse First Boston, A.G. Edwards & Sons, Inc., First Union
Securities, Inc., and Tucker Anthony Sutro Capital Markets.
The proceeds from this offering will be used to repay a portion of the
amount outstanding on the Company's $200 million unsecured acquisition credit
facility and for other general corporate purposes.
Commenting on the offering, Tom A. Lewis, Chief Executive Officer, stated,
"We are pleased to have been able to access the capital markets with this
offering of common stock. The timing of the offering, when many shareholders
are seeking income investments and attractive yields, resulted in strong
demand for our shares. The additional capital will allow us to continue to
increase the size of our real estate portfolio and the revenues supporting the
payment of monthly dividends."
The shares of common stock will be issued pursuant to a Registration
Statement that has been declared effective by the Securities and Exchange
Commission. The shares are only offered by means of the prospectus included
in the Registration Statement and the prospectus supplement related to this
offering. 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 in which such offer, solicitation or sale would be
unlawful.
Realty Income, "The Monthly Dividend Company," is a New York Stock
Exchange real estate company dedicated to providing shareholders with
dependable monthly income. The monthly income is supported by the cash flow
from 1,061 retail properties owned under long-term lease agreements with
leading regional and national retail chains. The Company is an active buyer
of net-leased retail properties nationwide.
NOTE TO EDITORS:
Realty Income press releases are available at no charge by calling our
toll-free investor hotline number: 888-811-2001, or through the Internet at
http://www.realtyincome.com/Investing/News.html.
SOURCE Realty Income Corporation
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Related links:
http://www.realtyincome.com
CONTACT:
Gary M. Malino, Executive Vice President,
Chief Financial Officer of Realty Income Corporation,
760-741-2111, ext. 142
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