BUZZ-Realty Income dips after planned $750 mln convertible bond unveil

Reuters01-06
BUZZ-<a href="https://laohu8.com/S/O">Realty Income</a> dips after planned $750 mln convertible bond unveil

** Realty Income's O.N shares down 0.7% at $57.46 in extended trading as co looks to raise capital

** Commercial real estate investment trust announces private offering of $750 mln convertible bonds (CBs) due 2029

** Co plans to use net offering proceeds for general purposes, including repayment or repurchase of indebtedness (including $500 mln outstanding of its 5.05% notes due Jan 2026, and/or borrowings under its revolving credit facilities and commercial paper programs), redevelopment and acquisition of additional properties, among other uses

** It also intends to use some proceeds to repurchase its shares from initial purchasers of the CBs

** San Diego, California-based O has ~919.9 mln shares outstanding for about $53 bln market cap

** O shares on Mon closed up 0.9% at $57.85. Stock gained 5.5% in 2025 vs S&P 500 Real Estate Index .SPLRCR 0.3% loss

** Of 23 analysts covering O, recommendation breakdown is 5 "strong buy" or "buy", 17 "hold" and 1 "sell"; median PT $62, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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