Thursday, Kimco Realty Corp. (KIM) closed a public offering of $300 million 10-year unsecured senior notes due 2019 at a coupon of 6.875 percent per annum. The notes, which were priced at 99.84% to yield 6.897%, will mature October 1, 2019. The net proceeds of approximately $297.3 million will be used by the company to repay $220.0 million of existing unsecured term loans which were scheduled to mature in April 2011.
The company noted that it would use the remaining proceeds for general corporate purposes which includes the repayment of other indebtedness such as construction loans coming due in 2010. As a result of these transactions, the company's debt maturity profile is enhanced without increasing the company's total indebtedness. J.P. Morgan, Morgan Stanley, and Wells Fargo Securities served as the joint book-running managers for this offering. Barclays Capital, RBC Capital Markets, RBS, and Scotia Capital served as the co-managers.
Kimco Realty Corp. is a publicly owned real estate investment trust. The firm engages in acquisitions, development, and management of neighborhood and community shopping centers. It also provides property management services relating to the management, leasing, operation, and maintenance of real estate properties.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.