Realty Income Recasts and Expands Revolving Credit Facilities to $5.5 Billion and Commercial Paper Programs to $5.5 Billion

Corporate Action
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Summary · why it matters

Realty Income has closed on the recast and expansion of its multicurrency unsecured revolving credit facilities to $5.5 billion, up from the prior $4.0 billion capacity, and also expanded its global commercial paper programs to a combined $5.5 billion, up from $3.0 billion. The revolving credit facilities are split into two $2.75 billion tranches maturing in April 2029 and July 2030, with an accordion feature allowing an increase to $6.5 billion. The company's current credit ratings provide for a borrowing rate of 67.5 basis points over SOFR and a facility fee of 12.5 basis points, resulting in all-in drawn pricing of 80 basis points over SOFR, a reduction of 5 basis points from the prior facilities. The commercial paper programs consist of a $2.75 billion U.S. program and a $2.75 billion European program, with the revolving credit facilities serving as a liquidity backstop. A total of 26 lenders are participating, with Wells Fargo as administrative agent and Wells Fargo Securities, JPMorgan Chase, BofA Securities, Mizuho, and TD Bank as joint bookrunners.

Impact on stocks 6

Financials▲ · 4 stocks
Wells Fargo & Company
WFC
▲ PositiveCapitalrelevance

Wells Fargo served as administrative agent and joint bookrunner, earning significant fees and reinforcing its lead role.

Bank of America Corp
BAC
▲ PositiveCapitalrelevance

BofA Securities acted as joint bookrunner, earning fees and enhancing its banking relationship with Realty Income.

Toronto Dominion Bank
TD
▲ PositiveCapitalrelevance

TD Bank acted as joint bookrunner, earning fees and expanding its corporate lending portfolio.

Digital Finance & Tokenization▲ · 1 stocks
JPMorgan Chase & Co
JPM
▲ PositiveCapitalrelevance

JPMorgan Chase acted as joint bookrunner, earning fees and strengthening its investment banking ties.

Real Estate▲ · 1 stocks
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