Realty Income to pay down revolver with public offering proceeds

By Tali Rackner

Norfolk, Va., May 18 – Realty Income Corp. plans to repay borrowings under its $2 billion revolving credit facility with the proceeds from a public offering of 6.5 million shares of common stock, according to a press release.

Proceeds will also be used to fund potential investment opportunities and/or for other general corporate purposes.

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

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