Realty Income ($O) issued $862.5M of 3.50% convertible senior notes due Jan 15, 2029 on Jan 8, 2026…
Filed with the SEC on · Summarized by InvestorsBot
Realty Income ($O) issued $862.5M of 3.50% convertible senior notes due Jan 15, 2029 on Jan 8, 2026 (includes $112.5M from full exercise of initial purchasers' option). Trustee: BNY Mellon. Senior, unsecured. 💰 #REIT #debt
Notes convert at 14.4051 shares per $1,000 (implied ~$69.42/sh). Conversion limited before certain events until Oct 15, 2028; freely convertible from Oct 15, 2028 to 2 trading days before maturity. Settlement cash and/or shares; 20‑day Observation Period. 🔁 $O #convertibles #fixedincome
Company may redeem at par to preserve REIT tax status; calling can trigger make‑whole conversion adjustments. Noteholders can demand repurchase at par on a Fundamental Change. Standard Events of Default; bankruptcy accelerates repayment. ⚖️ $O #investing #risks