Kimco Realty intends to offer 30-year fixed-rate notes

By Devika Patel

Knoxville, Tenn., Aug. 15 – Kimco Realty Corp. is expected to price dollar-denominated fixed-rate notes due 2049, according to a 424B5 filing with the Securities and Exchange Commission.

The notes have a make-whole call until six months prior to maturity and are then redeemable at par.

The bookrunners are Barclays, BofA Securities Inc., Citigroup Global Markets Inc., RBC Capital Markets LLC, J.P. Morgan Securities LLC, Wells Fargo Securities LLC and Jefferies & Co.

Proceeds will be used to redeem the company's $175 million of class I preferred stock and its $175 million of class K preferred stock and for general corporate purposes.

Kimco is a New Hyde Park, N.Y., real estate investment trust that owns and operates neighborhood and community shopping centers.

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