Realty Income to pay down acquisition credit facility via new notes

By Tali Rackner

Norfolk, Va., Sept. 16 – Realty Income Corp. plans use the proceeds from a new notes offering to repay a portion of the borrowings outstanding under its acquisition credit facility, according to a 424B5 filing with the Securities and Exchange Commission.

Remaining net proceeds will be used to redeem all of its outstanding shares of class E preferreds and, to the extent not used for the foregoing purposes, for other general corporate purposes and working capital, which may include acquisitions.

The real estate investment trust for retail and commercial properties is based in Escondido, Calif.

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