Press Release Details

Oct 01, 2015

Realty Income Announces Pricing Of 10.0 Million Share Common Stock Offering

SAN DIEGO, Oct. 1, 2015 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that a public offering of 10,000,000 shares of the company's common stock has been priced at a public offering price of $46.88 per share, and is expected to close October 7, 2015. Net proceeds from the offering, after underwriting discounts, will be approximately $450 million. The company has also granted the underwriters a 30-day option to purchase up to 1,500,000 additional shares of common stock.

Realty Income Corporation - The Monthly Dividend Company.

The company expects to use the net proceeds from the offering to repay borrowings under its $2.0 billion unsecured revolving credit facility and for other general corporate purposes and working capital, which may include acquisitions.

The underwriters for the offering are: BofA Merrill Lynch, Morgan Stanley, Wells Fargo Securities, RBC Capital Markets, LLC, Barclays Capital Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, and UBS Investment Bank (joint book-running managers), Robert W. Baird & Co. Incorporated, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Jefferies LLC, Mizuho Securities, Raymond James & Associates, Inc., and Stifel, Nicolaus & Company, Incorporated (co-lead managers), BB&T Capital Markets (senior co-manager), and BNY Mellon Capital Markets, LLC, Comerica Securities, Inc., Mitsubishi UFJ Securities (USA), Inc., Moelis & Company, Piper Jaffray & Co., and Ramirez & Co., Inc. (co-managers).

Copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained, when available, from BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, New York 10038 or email: dg.prospectus_requests@baml.com; or Morgan Stanley & Co. LLC, Attn: Prospectus Department,180 Varick Street, 2nd Floor, New York, New York 10014; or Wells Fargo Securities, LLC, Attn: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, telephone: 1.800.326.5897 or email: cmclientsupport@wellsfargo.com; or RBC Capital Markets, LLC, Attn: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, New York 10281-8098, telephone: 1.877.822.4089 or email: equityprospectus@rbccm.com.

These securities are offered pursuant to a Registration Statement that has become effective under the Securities Act. These securities are only offered by means of the prospectus included in the Registration Statement and the preliminary prospectus supplement related to the 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 or other jurisdiction where, or to any person to whom, the offer, solicitation, or sale of these securities would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Forward-Looking Statements
Statements in this press release that are not strictly historical are "forward-looking" statements. Forward-looking statements involve known and unknown risks, which may cause the company's actual future results to differ materially from expected results. These risks include, among others, general economic conditions, local real estate conditions, tenant financial health, the availability of capital to finance planned growth, continued volatility and uncertainty in the credit markets and broader financial markets, property acquisitions and the timing of these acquisitions, charges for property impairments, and the outcome of legal proceedings to which the company is a party, as described in the company's filings with the Securities and Exchange Commission. Consequently, forward-looking statements should be regarded solely as reflections of the company's current operating plans and estimates. Actual operating results may differ materially from what is expressed or forecast in this press release. The company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.

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SOURCE Realty Income Corporation

(Pricing delayed 20 minutes)