Kimco Realty Announces Pricing of $500 Million Public Offering of Notes

Kimco Realty Corporation, a leading real estate investment trust (REIT) specializing in open-air, grocery-anchored shopping centers, has announced the pricing of a public offering of $500 million aggregate principal amount of 6.400% notes due 2034. The notes, which will mature on March 1, 2034, have an effective yield of 6.456%. The offering is expected to settle on October 12, 2023, subject to customary closing conditions.

The net proceeds from the offering will be used for general corporate purposes, including funding suitable investments and redevelopment opportunities, as well as the repayment of outstanding indebtedness.

The offering was managed by a group of joint book-running managers, including Wells Fargo Securities, LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, TD Securities (USA) LLC, BofA Securities, Inc., Mizuho Securities USA LLC, and Scotia Capital (USA) Inc. Several other firms served as senior co-managers and co-managers in connection with the offering.

Kimco Realty, headquartered in Jericho, N.Y., is the largest publicly traded owner and operator of open-air, grocery-anchored shopping centers in North America. The company’s portfolio is primarily concentrated in the first-ring suburbs of major metropolitan markets, with a tenant mix focused on essential, necessity-based goods and services. Kimco Realty is also committed to environmental, social, and governance (ESG) issues and is recognized as an industry leader in these areas.

For more information about Kimco Realty, please visit their website at www.kimcorealty.com.