Realty Income Recasts and Expands Credit Facilities to $5.38 Billion
Realty Income has successfully expanded its credit facilities to $5.38 billion, including a new $1.38 billion facility for its U.S. Core Plus Fund. The company's main revolving credit facilities now total $4.0 billion with potential expansion to $5.0 billion, split into two $2.0 billion tranches maturing in 2027 and 2029.
The credit facilities feature favorable terms, with U.S. Dollar borrowing rates at 72.5 basis points over SOFR and a facility commitment fee of 12.5 basis points. A consortium of 25 lenders supports these facilities, led by Wells Fargo Bank as Administrative Agent.
The newly established U.S. Core Plus Fund facility comprises a $1.0 billion revolving credit facility and a $380 million delayed draw term loan, with expansion potential to $2.0 billion. The Fund, launched in late 2024, currently manages 184 industrial and retail properties across 33 states, focusing on generating dependable income through diversified U.S. net lease investments.
Realty Income ha ampliato con successo le sue linee di credito a 5,38 miliardi di dollari, includendo una nuova linea da 1,38 miliardi di dollari destinata al suo U.S. Core Plus Fund. Le principali linee di credito revolving della società ammontano ora a 4,0 miliardi di dollari, con la possibilità di espansione fino a 5,0 miliardi, suddivise in due tranche da 2,0 miliardi ciascuna con scadenze nel 2027 e nel 2029.
Le condizioni delle linee di credito sono vantaggiose, con tassi di interesse sul prestito in dollari USA pari a 72,5 punti base sopra il SOFR e una commissione di impegno della linea pari a 12,5 punti base. Un consorzio di 25 istituti finanziari sostiene queste linee, con Wells Fargo Bank come agente amministrativo.
La nuova linea di credito per l'U.S. Core Plus Fund comprende una linea revolving da 1,0 miliardi di dollari e un prestito a termine con prelievo differito da 380 milioni di dollari, con potenziale espansione fino a 2,0 miliardi. Il fondo, lanciato a fine 2024, gestisce attualmente 184 proprietà industriali e commerciali in 33 stati, concentrandosi sulla generazione di reddito affidabile attraverso investimenti diversificati in contratti di locazione netti negli Stati Uniti.
Realty Income ha ampliado con éxito sus líneas de crédito hasta 5.380 millones de dólares, incluyendo una nueva línea de 1.380 millones de dólares para su U.S. Core Plus Fund. Las principales líneas de crédito revolventes de la compañía suman ahora 4.000 millones de dólares, con posibilidad de ampliación hasta 5.000 millones, divididas en dos tramos de 2.000 millones cada uno con vencimientos en 2027 y 2029.
Las condiciones de estas líneas de crédito son favorables, con tasas de interés en dólares estadounidenses de 72,5 puntos básicos sobre el SOFR y una comisión por compromiso de la línea de 12,5 puntos básicos. Un consorcio de 25 prestamistas respalda estas facilidades, con Wells Fargo Bank como agente administrativo.
La nueva línea para el U.S. Core Plus Fund consta de una línea de crédito revolvente de 1.000 millones de dólares y un préstamo a plazo con desembolso diferido de 380 millones de dólares, con potencial de expansión hasta 2.000 millones. El fondo, lanzado a finales de 2024, gestiona actualmente 184 propiedades industriales y comerciales en 33 estados, enfocándose en generar ingresos confiables mediante inversiones diversificadas en arrendamientos netos en EE.UU.
Realty Income는 신용 한도를 53억 8천만 달러로 성공적으로 확장했으며, 여기에는 미국 코어 플러스 펀드를 위한 신규 13억 8천만 달러의 시설이 포함됩니다. 회사의 주요 회전 신용 한도는 현재 40억 달러이며, 2027년과 2029년에 만기가 도래하는 각각 20억 달러 규모의 두 개 트랜치로 나뉘어 최대 50억 달러까지 확장 가능합니다.
이 신용 시설들은 유리한 조건을 가지고 있으며, 미 달러 대출 금리는 SOFR 대비 72.5 베이시스 포인트이며, 시설 약정 수수료는 12.5 베이시스 포인트입니다. 웰스파고 은행이 관리 에이전트로 이끄는 25개 대출 기관 컨소시엄이 이 시설을 지원합니다.
새로 설립된 미국 코어 플러스 펀드 시설은 10억 달러 회전 신용 시설과 3억 8천만 달러 지연 인출 만기 대출로 구성되며, 최대 20억 달러까지 확장할 수 있습니다. 2024년 말에 출범한 이 펀드는 현재 33개 주에 걸쳐 184개의 산업 및 소매 부동산을 관리하며, 미국 내 다양한 순임대 투자로 안정적인 수익 창출에 집중하고 있습니다.
Realty Income a réussi à étendre ses facilités de crédit à 5,38 milliards de dollars, incluant une nouvelle facilité de 1,38 milliard de dollars destinée à son U.S. Core Plus Fund. Les principales facilités de crédit renouvelables de la société s'élèvent désormais à 4,0 milliards de dollars, avec une possibilité d'extension à 5,0 milliards, réparties en deux tranches de 2,0 milliards chacune arrivant à échéance en 2027 et 2029.
Les conditions de ces facilités de crédit sont avantageuses, avec des taux d'emprunt en dollars américains à 72,5 points de base au-dessus du SOFR et une commission d'engagement de 12,5 points de base. Un consortium de 25 prêteurs soutient ces facilités, dirigé par Wells Fargo Bank en tant qu'agent administratif.
La nouvelle facilité pour l'U.S. Core Plus Fund comprend une facilité de crédit renouvelable de 1,0 milliard de dollars et un prêt à terme à tirage différé de 380 millions de dollars, avec un potentiel d'extension à 2,0 milliards. Le fonds, lancé fin 2024, gère actuellement 184 propriétés industrielles et commerciales dans 33 États, se concentrant sur la génération de revenus fiables grâce à des investissements diversifiés en baux nets aux États-Unis.
Realty Income hat seine Kreditfazilitäten erfolgreich auf 5,38 Milliarden US-Dollar ausgeweitet, einschließlich einer neuen Fazilität über 1,38 Milliarden US-Dollar für seinen U.S. Core Plus Fund. Die Haupt-Revolving-Kreditfazilitäten des Unternehmens belaufen sich nun auf insgesamt 4,0 Milliarden US-Dollar mit der Möglichkeit einer Erweiterung auf 5,0 Milliarden, aufgeteilt in zwei Tranchen zu je 2,0 Milliarden US-Dollar mit Fälligkeiten in 2027 und 2029.
Die Kreditfazilitäten weisen günstige Konditionen auf, mit US-Dollar-Kreditkosten von 72,5 Basispunkten über dem SOFR und einer Fazilitätsbereitstellungsgebühr von 12,5 Basispunkten. Ein Konsortium von 25 Kreditgebern unterstützt diese Fazilitäten, angeführt von der Wells Fargo Bank als administrativem Agenten.
Die neu eingerichtete Fazilität für den U.S. Core Plus Fund besteht aus einer 1,0 Milliarden US-Dollar Revolving-Kreditfazilität und einem 380 Millionen US-Dollar verzögerten Terminkredit mit Erweiterungspotential auf 2,0 Milliarden. Der Fonds, der Ende 2024 gestartet wurde, verwaltet derzeit 184 Industrie- und Einzelhandelsimmobilien in 33 Bundesstaaten und konzentriert sich darauf, verlässliche Einnahmen durch diversifizierte US-Netto-Leasing-Investitionen zu generieren.
- Expanded total credit facilities to $5.38 billion, enhancing liquidity position
- New $1.38 billion credit facility established for U.S. Core Plus Fund, showing growth in private capital business
- Strong lender support with 25 banks participating in main facilities and 23 in Fund facilities
- Favorable borrowing rate of 85 basis points over SOFR for USD borrowings, reflecting strong A3/A- credit ratings
- Portfolio includes over 15,600 properties across multiple countries
- Consistent dividend performance with 658 consecutive monthly dividends and 30 years of increases
- Credit facilities subject to obtaining lender commitments for accordion expansion
- Additional debt could increase financial leverage and interest expenses
- Exposure to interest rate fluctuations through SOFR-based borrowing rates
Insights
Realty Income enhances financial flexibility with $5.38B credit facility expansion, signaling strong banking relationships and future growth capacity.
Realty Income's credit facility expansion represents a significant enhancement to the company's liquidity position, increasing total capacity to
The favorable pricing terms - just
The staggered maturity dates (extending to 2027 and 2029) with additional six-month extension options provide long-term stability to their capital structure. The participation of 25 lenders in the main facilities demonstrates robust banking relationships and market confidence in Realty Income's business model and growth trajectory.
Most notably, the
Includes Establishment of
"We are grateful for the support of our longtime lending partners and their continued confidence in the Realty Income platform. The recast includes the introduction of liquidity for our
Realty Income's revolving credit facilities provide for updated capacity of
A total of 25 lenders are participating in the Realty Income revolving credit facilities, including Wells Fargo Bank, National Association, as the Administrative Agent. Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., BofA Securities, Inc., TD Bank, N.A, and Mizuho Bank, Ltd. are serving as Joint Bookrunners.
A subsidiary of Realty Income's
A total of 23 lenders are participating in the Fund credit facilities, including Wells Fargo Bank, National Association, as the Administrative Agent. Wells Fargo Securities, LLC and TD Bank, N.A., are serving as Joint Bookrunners.
About Realty Income
Realty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we invest in diversified commercial real estate and have a portfolio of over 15,600 properties in all 50 U.S. states, the
About Realty Income
In late 2024, Realty Income established Realty Income
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. When used in this press release, the words "estimated," "anticipated," "expect," "believe," "intend," "continue," "should," "may," "likely," "plans," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of our business and portfolio; growth strategies including our private capital fund business; liquidity and cash flows; and the intentions of management. Forward-looking statements are subject to risks, uncertainties, and assumptions about us, which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our continued qualification as a real estate investment trust; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding (including the terms and partners of such funding); continued volatility and uncertainty in the credit markets and broader financial markets; other risks inherent in the real estate business including our clients' solvency, client defaults under leases, increased client bankruptcies, potential liability relating to environmental matters, illiquidity of real estate investments, and potential damages from natural disasters; impairments in the value of our real estate assets; changes in domestic and foreign income tax laws and rates; property ownership through co-investment ventures, funds, joint ventures, partnerships and other arrangements which may transfer or limit our control of the underlying investments; epidemics or pandemics, including measures taken to limit their spread, the impacts on us, our business, our clients, and the economy generally; the loss of key personnel; the outcome of any legal proceedings to which we are a party or which may occur in the future; acts of terrorism and war; the anticipated benefits from mergers and acquisitions; and those additional risks and factors discussed in our reports filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are not guarantees of future plans and performance and speak only as of the date of this press release. Actual plans and operating results may differ materially from what is expressed or forecasted in this press release and forecasts made in the forward-looking statements discussed in this press release might not materialize. We do not undertake any obligation to update forward-looking statements or publicly release the results of any forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.
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SOURCE Realty Income Corporation
FAQ
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