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Kimco preps $350 million 30-year notes offer via three bookrunners
By Aleesia Forni
Virginia Beach, March 23 – Kimco Realty Corp. is preparing to sell a $350 million offering of 30-year senior notes (Baa1/BBB+/) on Monday, according to a market source and a 424B5 filing with the Securities and Exchange Commission.
The bookrunners are BofA Merrill Lynch, Barclays and Deutsche Bank Securities Inc.
Proceeds will be used for general corporate purposes, including the pre-funding of near-term maturities and to partially reduce borrowings under its revolving credit facility maturing in March 2018.
The real estate investment trust for neighborhood and community shopping centers is based in New Hyde Park, N.Y.
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