REALTY INCOME CORP 8-K

What Happened
Realty Income Corporation filed an 8-K (June 29, 2026) providing updates on recent financing and liquidity. On April 7, 2026 the company issued $800.0 million of 4.750% senior unsecured notes due April 2033 (public offering price 98.261%; effective semi‑annual yield 5.047%). In connection with that issuance, Realty Income entered a $500 million USD-to-EUR 7‑year cross-currency swap, producing roughly €436 million and a blended coupon of 4.16%. On May 7, 2026 the company refreshed its at‑the‑market (ATM) equity program to allow up to 150.0 million common shares to be sold. As of June 25, 2026 Realty Income reported approximately $4.01 billion of total available liquidity on a Pro‑Rata Share basis.

Key Details

• $800.0M of 4.750% senior unsecured notes issued on April 7, 2026; due April 2033; offering price 98.261% (yield 5.047%).
• $500M 7‑year USD→EUR cross‑currency swap tied to that issuance; generated ~€436M and a blended coupon of 4.16%.
• ATM program refreshed May 7, 2026: capacity to offer and sell up to 150.0M common shares on the NYSE under ticker “O.”
• Reported available liquidity as of June 25, 2026 (Pro‑Rata Share): $4,011.5M = $242.4M cash + $3,472.1M availability under credit facilities + $2,056.8M unsettled ATM forwards − $1,759.8M commercial paper.

Why It Matters
These financing actions and reported liquidity show Realty Income has recently raised medium‑term debt and refreshed its equity issuance capacity, while maintaining roughly $4.0 billion of available liquidity on a Pro‑Rata basis. For investors, the 2033 notes and swap affect the company’s debt profile and interest/currency exposure; the refreshed ATM program creates an option to issue equity (which can dilute shares if used); and the liquidity breakdown highlights use of credit lines, commercial paper, and unsettled ATM forwards in the company’s short‑term funding mix.