Realty Income Prices Public Offering Of 10.85 Mln Shares At $62.00/shr

(RTTNews) - Realty Income Corp. (O) said that a public offering of 10.85 million shares of the company's common stock has been priced at a public offering price of $62.00 per share, and is expected to close March 3, 2017.

Net proceeds from the offering, after underwriting discounts, will be approximately $645.8 million. The offering was upsized from an original amount of 8 million shares to the final offering size of 10.85 million shares. The company has also granted the underwriters a 30-day option to purchase up to 1.63 million additional shares of common stock.

The company noted that it intends to use the net proceeds from the offering to repay a portion of the borrowings outstanding under its $2.0 billion unsecured revolving credit facility and, to the extent not used for that purpose, to fund potential investment opportunities and/or for other general corporate purposes.