Realty Income retires all $20 million 8% notes

By Jennifer Chiou

New York, Jan. 22 - Realty Income Corp. announced that it retired all of its outstanding $20 million of 8% senior notes due January 2009.

The notes were repurchased at par plus accrued interest.

"We are pleased to be able to pay off the $20 million in notes with cash on hand," chief executive officer Tom A. Lewis said in a news release.

"With the repayment of these notes, Realty Income has no additional debt maturing for four years, or until 2013. In addition, we have no borrowings on our $355 million credit facility, providing us with excellent liquidity, during a difficult credit market, and no exposure to variable rate debt."

The Escondido, Calif.-based corporation engages in the acquisition and ownership of commercial retail real estate property in the United States.

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