Press Release Details

Sep 06, 2006

Realty Income Prices $275 Million of 5.95% 10-Year Senior Unsecured Notes

ESCONDIDO, CALIFORNIA, Sept. 6, 2006. Realty Income Corporation (Realty Income), The Monthly Dividend Company(R), (NYSE:O) today announced the pricing of $275 million of 5.95% senior unsecured notes due 2016. The public offering price for the notes was 99.740% of the principal amount for an effective yield of 5.985%. These securities are expected to be rated BBB+ by Fitch Ratings, Baa2 by Moody's Investors Service and BBB by Standard & Poor's Ratings Group. The net proceeds from the offering will be used to fund the previously announced redemption of Realty Income's $110 million, 7 3/4% Notes, due May 2007, to repay borrowings under the Company's unsecured acquisition credit facility and for other corporate purposes. In addition, Realty Income intends to engage in additional public offerings of securities, including possible issuances of common stock, preferred stock or unsecured notes, to finance previously announced acquisitions.

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