Kimco Realty Corp. (KIM) announced the pricing of its public offering of 25 million shares of common stock at $12.50 per share. The company has granted the underwriters an option to purchase up to an additional 3.75 million shares to cover over-allotments, if any. The offering is expected to close on or about December 11, 2009.
The company expects to use the net proceeds, which are expected to be approximately $300 million without giving effect to any exercise of the underwriters' over-allotment option, to partially repay amounts borrowed under its $1.5 billion unsecured U.S. revolving credit facility.
The company's $1.5 billion unsecured U.S. revolving credit facility is scheduled to mature in October 2011.
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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.