Press Release Details

Apr 06, 2015

Realty Income Announces Pricing Of Upsized 5.5 Million Share Common Stock Offering

SAN DIEGO, April 6, 2015 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that a public offering of 5,500,000 shares of the company's common stock has been priced at a public offering price of $50.51 per share, and is expected to close April 10, 2015. Net proceeds from the offering, after underwriting discounts, will be approximately $276.7 million. The offering was upsized from an original amount of 5,000,000 shares to the final offering size of 5,500,000 shares.

Realty Income Corporation - The Monthly Dividend Company.

The company expects to use the net proceeds from the offering to repay borrowings under its $1.5 billion acquisition credit facility which is generally used to fund real estate acquisitions.

The joint book-runners for the offering are RBC Capital Markets, BofA Merrill Lynch, J.P. Morgan and Morgan Stanley.

Copies of the prospectus supplement and accompanying prospectus, when available, may be obtained from RBC Capital Markets, Attn: Equity Syndicate, 200 Vesey St., 8th Floor, New York, New York, 10281-8098, telephone: 1.877.822.4089 or email equityprospectus@rbccm.com; or BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, New York 10038 or email dg.prospectus_requests@baml.com; or J.P. Morgan, Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1.866.803.9204 or email prospectus-eq-fi@jpmchase.com; or Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York, 10014.

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 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)