Kimco Realty to offer new notes due 2034 via four bookrunners

By Mary-Katherine Stinson

Lexington, Ky., Oct. 2 – Kimco Realty OP, LLC is offering new fixed-rate notes due 2034 guaranteed by Kimco Realty Corp., according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be optionally redeemable with a make-whole premium until three months before the maturity date. During the final three months, the notes can be freely redeemed at par.

Joint bookrunners are Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC.

Bank of New York Mellon is the trustee.

Latham & Watkins LLP is advising the issuer. Sidley Austin LLP is working as counsel to the underwriters. Venable LLP may help either firm with matters concerning Baltimore law.

Proceeds will be used for general corporate purposes, including funding for suitable investments and redevelopment opportunities and the repayment of outstanding debt.

The Jericho, N.Y.-based real estate investment trust owns and operates open-air shopping centers.

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