Kimco Realty to sell cumulative preferred stock Tuesday

By Andrea Heisinger

Omaha, Oct. 1 - Kimco Realty Corp. announced Monday it will sell shares of cumulative preferred stock.

The issue is expected to price Tuesday, an informed source said.

The shares (Baa1/A-) will be priced at par of $25.

Bookrunners are Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Inc., UBS Investment Bank and Wachovia Capital Securities LLC.

Proceeds will be used for general corporate purposes, which may include funding the company's investments.

The company, which owns and operates shopping centers, is based in New Hyde Park, N.Y.

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