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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.