Kimco Realty selling 10-year notes on Tuesday via four bookrunners

By Andrea Heisinger

New York, May 14 - Kimco Realty Corp. is preparing to sell 10-year notes (Baa1/BBB+/) Tuesday, according to a 424B5 filing with the Securities and Exchange Commission.

There will be a make-whole call over Treasuries until three months prior to maturity and a par call after that date.

Bookrunners are J.P. Morgan Securities LLC, Barclays, Morgan Stanley & Co. LLC and RBC Capital Markets LLC.

Proceeds will be used for general corporate purposes, including to reduce borrowings under a revolving credit facility maturing in October 2015; replacing debt following the $100 million of 6.125% senior notes that were redeemed at maturity in January 2013; and to prefund near-term maturities.

Kimco was last in the U.S. bond market with a $300 million offering of notes due 2018 on Aug. 25, 2010.

The real estate investment trust for neighborhood and community shopping centers is based in New Hyde Park, N.Y.

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