Realty Income to repay acquisition credit facility via note offering

By Tali David

Minneapolis, Oct. 2 - Realty Income Corp. plans to use the proceeds of its new note offering to repay a portion of the borrowings outstanding under its acquisition credit facility, according to a 424B5 filed with the Securities and Exchange Commission.

As of Monday, the company had about $602 million of outstanding borrowings under the credit facility, which were generally used to acquire properties.

Any remaining net proceeds will be used for general corporate purposes and working capital, which may include acquisitions, the filing said.

Realty Income focuses on net-leased commercial properties and is located in Escondido, Calif.

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