Kimco Realty Announces Redemption of its 5.70% Senior Notes due 2017
Kimco Realty Corp. (NYSE:KIM) today announced that it will redeem $290,915,000 aggregate principal amount of its 5.70% Senior
Notes due 2017 (CUSIP No. 49446RAH2) (the “Senior Notes”), representing all outstanding Senior Notes, on August 26, 2016 (the
“Redemption Date”).
The Senior Notes were issued pursuant to an Indenture, dated as of September 1, 1993 (the “Base Indenture”), between Kimco and
The Bank of New York Mellon (as successor in interest to IBJ Schroder Bank & Trust Company), as trustee (the “Trustee”), as
supplemented and amended by the First Supplemental Indenture, dated as of August 4, 1994 (the “First Supplemental Indenture”), the
Second Supplemental Indenture, dated as of April 7, 1995 (the “Second Supplemental Indenture”), the Third Supplemental Indenture,
dated as of June 2, 2006 (the “Third Supplemental Indenture”), and the Fourth Supplemental Indenture, dated as of April 26, 2007
(the “Fourth Supplemental Indenture” and, together with the Base Indenture, the First Supplemental Indenture, the Second
Supplemental Indenture and the Third Supplemental Indenture, the “Indenture”), in each case entered into between Kimco and the
Trustee. Pursuant to the terms of the Senior Notes, the redemption price (the “Redemption Price”) shall be equal to the greater of
(i) 100% of the aggregate principal amount of the Senior Notes to be redeemed, plus accrued and unpaid interest on the Senior Notes
to be redeemed to, but excluding, the Redemption Date, and (ii) the sum, as determined by an independent investment banker to be
appointed by Kimco, of the remaining scheduled payments of principal and interest in respect of the Senior Notes being redeemed
(exclusive of any interest accrued to, but excluding, the Redemption Date) discounted to the Redemption Date on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, plus accrued and unpaid
interest on the Senior Notes to be redeemed to, but excluding, the Redemption Date. The Redemption Price will be determined on
August 23, 2016.
A notice of redemption and related materials will be mailed to holders of record of the Senior Notes on July 26, 2016. Holders
that hold their Senior Notes through the Depository Trust Company (“DTC”) will be redeemed in accordance with the applicable
procedures of DTC. Questions relating to the notice of redemption and related materials should be directed to The Bank of New York
Mellon, in its capacity as paying agent for the redemption of the Senior Notes (the “Paying Agent”), at 1-800-254-2826. The address
of the Paying Agent is The Bank of New York Mellon, 500 Ross Street, 12th Floor, Pittsburgh, Pennsylvania 15262.
This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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 news 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 management’s 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 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 Corp.
David F. Bujnicki, 1-866-831-4297
Senior Vice President, Investor Relations and Strategy
dbujnicki@kimcorealty.com
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