ESCONDIDO, Calif., Oct. 29, 2013 /PRNewswire/ -- Realty Income Corporation (Realty Income), The Monthly Dividend Company®, (NYSE: O), announced today that the company has expanded its unsecured acquisition credit facility from $1.0 billion to $1.5 billion. The company exercised the $500 million accordion expansion of the existing credit facility with its current bank lending group. All other material business terms of the credit facility remain unchanged.
The Sole Lead Arranger for the credit facility is Wells Fargo Securities LLC. Bank of America, N.A. and Regions Bank are Co-Syndication Agents, and U.S. Bank National Association, J.P. Morgan Chase Bank, N.A., Royal Bank of Canada and The Bank of New York Mellon are Co-Documentation Agents. The other participants in the credit facility are: Union Bank, N.A., Branch Banking and Trust Company, BBVA Compass Bank, PNC Bank, Raymond James, Capital One Bank, Sumitomo Mitsui and Comerica. The Administrative Agent for the credit facility is Wells Fargo Bank, N. A..
Commenting on the transaction, EVP, Chief Financial Officer & Treasurer, Paul M. Meurer said, "We are very pleased with the expansion of our credit facility, which enhances our liquidity and financial flexibility, and provides ready access to capital for our property acquisition efforts. We sincerely appreciate the continued support of our bank lending partners as we have grown over the years. This facility will provide us with the funds to continue to increase the size of our real estate portfolio, which is fundamental to our goal of regularly increasing the amount of the monthly dividend we pay to our shareholders."
Realty Income is The Monthly Dividend Company®, a New York Stock Exchange real estate company dedicated to providing shareholders with dependable monthly income. To date, the company has declared 520 consecutive monthly dividend payments throughout its 44-year operating history. The monthly income is supported by the cash flow from more than 3,800 properties owned under long-term lease agreements with 200 leading regional and national retail chains and other commercial enterprises. The company is an active buyer of net-leased commercial properties nationwide. Additional information about the company can be obtained from the corporate website at www.realtyincome.com.
Statements in this press release that are not strictly historical are "forward-looking" statements. Forward-looking statements involve known and unknown risks, which may cause the company's actual future results to differ materially from expected results. These risks include, among others, general economic conditions, local real estate conditions, tenant financial health, the availability of capital to finance planned growth, continued volatility and uncertainty in the credit markets and broader financial markets, property acquisitions and the timing of these acquisitions, charges for property impairments, integration of the ARCT acquisition, and the outcome of legal proceedings to which the company is a party, as described in the company's filings with the Securities and Exchange Commission. Consequently, forward-looking statements should be regarded solely as reflections of the company's current operating plans and estimates. Actual operating results may differ materially from what is expressed or forecast in this press release. The company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.
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SOURCE Realty Income Corporation