Kimco Realty Announces Pricing of $150 Million 4.25% Notes Due 2045
Kimco Realty Corp. (NYSE:KIM) today announced the pricing of an additional $150 million aggregate principal amount of its 4.25%
Notes due 2045 with an effective yield of 4.375%, maturing April 1, 2045. The new notes constitute an additional issuance of, and
form a single series with, the $350 million aggregate principal amount of 4.25% Notes due 2045 issued on March 30, 2015. Upon
consummation of the offering of new notes, the aggregate principal amount outstanding of 4.25% Notes due 2045, including the
offering of new notes, will be $500 million. All outstanding notes will have a coupon of 4.25%, will trade interchangeably as a
single series and will mature on April 1, 2045. The net proceeds from the offering will be used for general corporate purposes,
including to pre-fund near-term maturities, including a portion of the $201.4 million of mortgage debt maturing during the
remainder of 2016 with a weighted average interest rate of 5.46%. The offering is expected to settle on May 11, 2016, subject to
customary closing conditions.
The sole book-running manager for the offering is Jefferies LLC. The offering was made pursuant to an effective shelf
registration statement, prospectus and related prospectus supplement. Copies of the prospectus supplement and the base prospectus,
when available, may be obtained by contacting Jefferies LLC at Attention: Debt Capital Markets, 520 Madison Avenue, 3rd
Floor, New York, NY 10022; or by emailing DCMProspectuses@Jefferies.com; or by calling 1-877-877-0696.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or other jurisdiction.
About Kimco
Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is North
America’s largest publicly traded owner and operator of open-air shopping centers. As of March 31, 2016, the company owned
interests in 550 U.S. shopping centers comprising 88 million square feet of leasable space across 36 states and Puerto Rico.
Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center
acquisitions, development and management for more than 50 years. For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
Safe Harbor Statement
The statements in this press release state the company’s and management’s intentions, beliefs, expectations or projections of
the future and are forward-looking statements. It is important to note that the company’s actual results could differ materially
from those projected in such forward-looking statements. Factors which may cause actual results to differ materially from current
expectations include, but are not limited to, (i) general adverse economic and local real estate conditions, (ii) the inability of
major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business,
(iii) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms
to the company, (iv) the company’s ability to raise capital by selling its assets, (v) changes in governmental laws and
regulations, (vi) the level and volatility of interest rates and foreign currency exchange rates and managements’ ability to
estimate the impact thereof, (vii) risks related to the company’s international operations, (viii) the availability of suitable
acquisition, disposition, development and redevelopment opportunities, and risks related to acquisitions not performing in
accordance with our expectations, (ix) valuation and risks related to the company’s joint venture and preferred equity investments,
(x) valuation of marketable securities and other investments, (xi) increases in operating costs, (xii) changes in the dividend
policy for the company’s common stock, (xiii) the reduction in the company’s income in the event of multiple lease terminations by
tenants or a failure by multiple tenants to occupy their premises in a shopping center, (xiv) impairment charges and (xv)
unanticipated changes in the company’s intention or ability to prepay certain debt prior to maturity and/or hold certain securities
until maturity. Additional information concerning factors that could cause actual results to differ materially from those
forward-looking statements is contained from time to time in the company’s SEC filings. Copies of each filing may be obtained from
the company or the SEC.
The company refers you to the documents filed by the company from time to time with the SEC, specifically the section titled
“Risk Factors” in the prospectus supplement and prospectus relating to the re-opening of the company’s 4.25% Notes due 2045 and in
the company’s Annual Report on Form 10-K for the year ended December 31, 2015, as may be updated or supplemented in the company’s
Quarterly Reports on Form 10-Q and the company’s other filings with the SEC, which discuss these and other factors that could
adversely affect the company’s results. The company disclaims any intention or obligation to update the forward-looking statements,
whether as a result of new information, future events or otherwise.
Kimco Realty Corporation
David F. Bujnicki, 1-866-831-4297
Senior Vice President, Investor Relations and Strategy
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