Realty Income Corporation Announces Closing of \$800 Million 4.750% Notes Due 2033 Offering

San Diego, CA – April 7, 2026: Realty Income Corporation (“the Company”), one of the largest and most prominent real estate investment trusts (REITs), announced today that it has successfully closed its public offering of \$800 million aggregate principal amount of its 4.750% Notes due 2033. This move was disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission.

Key Points for Investors

• Offering Details: Realty Income issued \$800 million in senior unsecured notes with a coupon rate of 4.750%, maturing in 2033.
• Underwriters: The offering was led by Wells Fargo Securities, LLC, BBVA Securities Inc., BofA Securities, Inc., J.P. Morgan Securities LLC, and TD Securities (USA) LLC, acting as representatives of the underwriters.
• Purchase Agreement: The purchase agreement for this offering was signed on March 30, 2026, with the closing taking place on April 7, 2026.
• Indenture & Legal Opinions: The notes are issued under an Indenture dated October 28, 1998, with The Bank of New York Mellon Trust Company, N.A. as successor trustee. Legal opinions confirming the validity of the notes were provided by Venable LLP and Latham & Watkins LLP.
• Registration: The notes are registered under Registration Statement No. 333-273402, and listed on the New York Stock Exchange.
• Trading Symbols: For these notes, the trading symbol is not explicitly stated; however, previous series of notes by Realty Income are listed with specific symbols such as O, O27A, O27B, etc., all trading on NYSE.
• CUSIP and ISIN: The 4.750% Notes due 2033 have CUSIP No. 756109 DB7 and ISIN No. US756109DB76.

Implications for Shareholders and Price-Sensitive Information

• Balance Sheet Impact: The successful issuance of \$800 million in debt strengthens Realty Income’s liquidity position and provides capital for future investments, debt repayment, or general corporate purposes. This is a substantial addition to the Company’s capital structure.
• Interest Rate & Market Environment: The 4.750% coupon is notable for its competitive pricing, potentially reflecting the Company’s strong credit profile and the current interest rate environment. Investors should consider the impact of this new debt on Realty Income’s overall cost of capital and future earnings.
• Senior Obligations: The notes are senior obligations, meaning they rank equally with other senior unsecured debt of the Company. They are not convertible or exchangeable into common or preferred stock, and the terms do not provide for additional amounts (such as for withholding taxes).
• Potential Price Sensitivity: The addition of a significant debt instrument could affect Realty Income’s leverage ratios and interest coverage, which are closely watched by credit rating agencies and equity analysts. Depending on the intended use of proceeds, this could signal expansion, acquisitions, or refinancing of existing debt—all of which may impact future cash flows and share price.
• Emerging Growth Company Status: Realty Income confirmed it is not an emerging growth company, nor has it elected to use extended transition periods for compliance with new accounting standards.
• Regulatory Compliance: All necessary legal opinions and regulatory filings have been completed, with no outstanding compliance issues noted.

Details of the 4.750% Notes Due 2033

• Principal Amount: \$800,000,000
• Interest Rate: 4.750% per annum
• Maturity Date: February 15, 2033
• Redemption: The notes may be redeemed by the Company prior to maturity under certain conditions, but amounts payable upon early redemption will not be determined by an index or formula.
• Form of Security: The notes are global securities, registered in the name of a nominee of a depositary (DTC). They are transferable only under limited circumstances as described in the indenture.

Exhibits and Legal Confirmation

• Indenture Reference: The indenture governing the notes was originally filed as Exhibit 4.1 to the Company’s Form 8-K dated October 28, 1998.
• Legal Opinions: Exhibits include consent letters from Venable LLP and Latham & Watkins LLP, confirming all legal aspects of the offering have been reviewed and approved.
• XBRL Data: The cover page interactive data file is included, formatted as Inline XBRL for regulatory compliance.

Shareholder Considerations

• Shareholders should monitor how Realty Income deploys the proceeds from this offering—whether to pursue new acquisitions, refinance existing debt, or for other corporate purposes—as these actions can impact growth prospects and future dividend payments.
• The Company’s ability to access capital markets at a favorable rate reinforces its reputation as a stable and investment-grade REIT, potentially supporting its share price.
• No indication of changes to dividend policy or equity structure was mentioned in this report.
• No material adverse events or compliance issues were reported.

Conclusion

The closing of the \$800 million, 4.750% Notes due 2033 marks a substantial financial event for Realty Income Corporation. The successful issuance at a competitive interest rate further strengthens the Company’s financial flexibility and could be viewed positively by both equity and fixed income investors. Shareholders and market participants should assess how Realty Income plans to utilize this capital and monitor any subsequent developments regarding acquisitions, refinancing, or other strategic initiatives.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should consult their own advisors before making any investment decisions. The information presented is based on official filings and may be subject to further updates or clarifications by Realty Income Corporation or regulatory authorities.

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