Realty Income amends credit facility to bring size to $1.5 billion

By Jennifer Chiou

New York, Oct. 29 - Realty Income Corp. announced that it has expanded the size of its unsecured acquisition credit facility to $1.5 billion from $1 billion by exercising the accordion feature.

Wells Fargo Securities LLC is the lead arranger, and Wells Fargo Bank, NA is the administrative agent.

Bank of America, NA and Regions Bank acted as co-syndication agents with U.S. Bank NA, JPMorgan Chase Bank, NA, Royal Bank of Canada and the Bank of New York Mellon as co-documentation agents.

The syndicate also includes Union Bank, NA, Branch Banking and Trust Co., BBVA Compass Bank, PNC Bank, Raymond James, Capital One Bank, Sumitomo Mitsui and Comerica.

"We are very pleased with the expansion of our credit facility, which enhances our liquidity and financial flexibility, and provides ready access to capital for our property acquisition efforts," chief financial officer and treasurer Paul M. Meurer said in a news release.

"This facility will provide us with the funds to continue to increase the size of our real estate portfolio, which is fundamental to our goal of regularly increasing the amount of the monthly dividend we pay to our shareholders."

Escondido, Calif.-based Realty Income focuses on net-leased commercial properties throughout the United States.

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