Realty Income closes amended $4.25 billion multicurrency revolver

By Wendy Van Sickle

Columbus, Ohio, April 28 – Realty Income Corp. closed on an amended $4.25 billion multicurrency unsecured revolving credit facility, replacing its existing $3 billion unsecured revolver, according to news release.

The capacity of the revolver can be increased to $5.25 billion via an accordion feature, which is subject to obtaining lender commitments.

The credit facility initially matures in June 2026 and includes two six-month extensions that can be exercised at the company’s option.

The company’s current A3/A- credit ratings provide for a borrowing rate of 72.5 basis points over an adjusted SOFR rate, with a facility commitment fee of 12.5 bps.

Wells Fargo Bank, NA is the administrative agent. Wells Fargo Securities, LLC, JPMorgan Chase Bank, NA, Mizuho Bank, Ltd. and TD Bank, NA are the joint bookrunners and are joined as lead arrangers by BofA Securities, Inc. and Regions Capital Markets.

JPMorgan, Mizuho Bank, Ltd. and TD Bank, NA are the syndication agents. Bank of America, NA, Regions Bank, BNP Paribas SA, U.S. Bank NA, Bank of Nova Scotia and Royal Bank of Canada are the documentation agents.

“We believe that the additional financial flexibility afforded to us through the upsized revolver will allow us to continue our profitable growth journey, including internationally, while preserving ample liquidity,” said Christie Kelly, executive vice president, chief financial officer and treasurer of Realty Income, said in the release.

The real estate investment trust is based in San Diego.

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