Kimco Realty Prices $500M Notes Offering Due 2036

Kimco Realty Corporation announced a $500 million public offering of 5.300% notes due February 1, 2036, through its subsidiary Kimco Realty OP, LLC, with an effective yield of 5.354%. The notes are fully guaranteed by Kimco Realty and expected to settle on June 26, 2025, providing capital to repay borrowings under its $2.0 billion unsecured revolving credit facility and to fund acquisitions, investments, and redevelopment opportunities. This issuance aims to optimize the company’s debt structure by converting variable rate debt into fixed-rate, long-term debt, thereby reducing refinancing risks. Kimco specializes in grocery-anchored shopping centers and mixed-use properties across the U.S., holding interests in 567 centers totaling 101 million square feet. The move reflects Kimco’s proactive capital management strategy amid current market conditions, with analysts rating the stock as a buy and highlighting the company's strong financial and operational performance. The offering was managed by several major financial institutions, signaling investor confidence despite potential economic uncertainties.