Realty Income to pay down revolver with proceeds of public offering

By Wendy Van Sickle

Columbus, Ohio, Oct. 1 – Realty Income Corp. plans to repay borrowings under its $2 billion revolving credit facility with some proceeds of a public offering of 10 million shares of common stock, according to a press release.

Realty Income said it will also use proceeds for other general corporate purposes and working capital, which may include acquisitions.

The real estate investment trust for retail and commercial properties is based in Escondido, Calif.

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