ESCONDIDO, Calif., Oct. 19 /PRNewswire/ -- Realty Income Corporation
(Realty Income), "The Monthly Dividend Company," (NYSE: O) today announced
that it has completed a public offering of 2,600,000 shares of the Company's
common stock, priced at $28.50 per share. The offering is expected to close
on October 23, 2001 and all 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., Salomon Smith Barney, Inc., Credit
Suisse First Boston, A.G. Edwards & Sons, Inc., Ferris, Baker, Watts, and
First Union 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.
Commenting on the offering, Tom A. Lewis, Chief Executive Officer stated,
"We are pleased with the support shown by the firms underwriting this common
stock offering. Demand for our shares was strong, which we attribute to the
continued quest for safety and income in today's financial marketplace. The
additional capital will allow us 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 1,079 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:
Tere Miller, Vice President, Investor
Relations, Realty Income Corporation, +1-760-741-2111 ext. 177
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