Kimco Realty offers $350 million long 10-year notes talked at Treasuries plus 125 bps area

By Marisa Wong and Cristal Cody

Los Angeles, Sept. 13 – Kimco Realty Corp. plans to price notes due Dec. 1, 2031 talked in the Treasuries plus 125 basis points area, a market source told Prospect News.

BofA Securities, Inc., PNC Capital Markets LLC, Truist Securities, Inc., Wells Fargo Securities, LLC, BNP Paribas Securities Corp. and J.P. Morgan Securities LLC are the joint bookrunners.

The notes will feature a make-whole call and then a par call, according to a 424B5 filing with the Securities and Exchange Commission.

Proceeds will be used for general corporate purposes, including repayment of borrowings under the company’s unsecured revolving credit facility and funding for acquisition and redevelopment opportunities.

The Jericho, N.Y.-based real estate investment trust owns and operates open-air grocery-anchored shopping centers and mixed-use assets in the United States.

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