Kimco Prices Upsized $525 Mln Exchangeable Notes Due 2031

Kimco Realty OP priced an upsized $525 million private placement of 3.50% exchangeable senior notes due 2031. The financing supports the retail property owner’s capital structure and reflects access to debt markets at a relatively low fixed coupon. The announcement is largely routine but notable for the upsized size and exchangeable bond structure.

Analysis

Kimco Realty OP priced an upsized $525 million private placement of 3.50% exchangeable senior notes due 2031. The financing supports the retail property owner’s capital structure and reflects access to debt markets at a relatively low fixed coupon. The announcement is largely routine but notable for the upsized size and exchangeable bond structure.