Kimco Realty Prices Its Public Offering Of $500M Of 6.400% Notes Due 2034
Portfolio Pulse from Benzinga Newsdesk
Kimco Realty's subsidiary, Kimco Realty OP, LLC, has priced a public offering of $500 million aggregate principal amount of 6.400% notes due 2034. The notes will be fully and unconditionally guaranteed by the Company and are expected to settle on October 12, 2023.
October 03, 2023 | 6:16 am
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NEUTRAL IMPACT
Kimco Realty's public offering of $500M notes could impact its liquidity and financial stability.
The public offering of notes will increase Kimco Realty's cash reserves in the short term, which could be used for various corporate purposes. However, it also increases the company's debt, which could impact its financial stability in the long term. The impact on the stock price in the short term is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100