Realty Income (O) announces $1 billion commercial paper program.

Realty Income Corp. (O) announced today that it has established a $1.0 billion commercial paper program.  Borrowings are expected to be used to fund acquisition-related growth and will be backstopped by the company's $3.0 billion revolving credit facility.  Realty Income's commercial paper borrowings are rated A-2/P-2.

Realty Income (O) is a large-cap equity REIT focusing on the acquisition and ownership of net-lease retail (84%) and commercial (16%) properties. The company was added to the S&P 500 in 2015 and has a current market capitalization of approximately $28 billion.