Realty Income Prices Upsized Public Offering Of 5.50 Mln Shares At $50.51/shr

(RTTNews) - Realty Income Corp. (O) announced that a public offering of 5.50 million shares of the company's common stock has been priced at a public offering price of $50.51 per share, and is expected to close April 10, 2015.

Net proceeds from the offering, after underwriting discounts, will be approximately $276.7 million. The offering was upsized from an original amount of 5 million shares to the final offering size of 5.50 million shares.

The company said it expects to use the net proceeds from the offering to repay borrowings under its $1.5 billion acquisition credit facility which is generally used to fund real estate acquisitions.

The joint book-runners for the offering are RBC Capital Markets, BofA Merrill Lynch, J.P. Morgan and Morgan Stanley.