Kimco Realty Corp. (KIM) prices $500 million "green bond" offering.
Kimco Realty Corp. (KIM) announced today that it has priced a $500 million offering of 2.70% unsecured senior notes due 2030. The notes were priced at 99.543% to yield 2.751%, or +210 basis points to the treasury curve. The notes are rated Baa1/BBB+. Kimco said that it intends to allocate proceeds from the offering to eligible "green" projects, including the acquisition or development of green buildings, energy efficient building upgrades, and the installation of sustainable water and wastewater management systems.
Kimco Realty Corporation is one of the largest owners of community shopping centers in the U.S. As of March 31, 2020, the company owned interests in 401 shopping centers with an aggregate 70 million sf of GLA. Kimco has a total market capitalization of approximately $10.5 billion and is a member of the S&P 500.
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Kimco Realty Corporation is one of the largest owners of community shopping centers in the U.S. As of March 31, 2020, the company owned interests in 401 shopping centers with an aggregate 70 million sf of GLA. Kimco has a total market capitalization of approximately $10.5 billion and is a member of the S&P 500.
07/07/2020