Kimco Realty to fully redeem two series of notes on Sept. 9

By Mary-Katherine Stinson

Lexington, Ky., Aug. 10 – Kimco Realty Corp. will redeem all $299.67 million of its 3.5% notes due 2023 (Cusip: 948741AJ2), representing all of the outstanding April 2023 notes, and all $313.925 million of its 3.125% senior notes 2023 (Cusip: 49446RAK5), representing all of the outstanding June 2023 notes, on Sept. 9, according to a press release and an 8-K filing with the Securities and Exchange Commission.

The redemption price for both series of notes will be equal to par plus a make-whole premium for each $1,000 principal amount redeemed. For the April 2023 notes this will be calculated according to the terms of the Weingarten Realty Investors indenture and for the June 2023 notes it will be calculated according to the company indenture.

Accrued interest will also be paid.

There is a prepayment charge of approximately $400,000 in connection with the redemption. The company stated this would impact net income and operations funds during the third quarter.

The April 2023 notes were originally issued May 1, 1995. The June 2023 notes were originally issued Sept. 1, 1993.

Questions may be directed to Bank of New York Mellon (800 254-2826) as the paying agent.

The Jericho, N.Y.-based real estate investment trust owns and operates open-air grocery-anchored shopping centers and mixed-use assets. Kimco and Weingarten merged in August 2021.

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