Kimco Realty® Announces Pricing of $500 Million Aggregate Principal Amount of 5.300% Notes due 2036
JERICHO, N.Y., June 16, 2025 (GLOBE NEWSWIRE) -- Kimco Realty Corporation (NYSE: KIM) (the 'Company') today announced that its subsidiary, Kimco Realty OP, LLC ('Kimco OP' and, together with the Company, 'Kimco'), has priced a public offering of $500 million aggregate principal amount of 5.300% notes due 2036 (the 'notes') with an effective yield of 5.354%, maturing February 1, 2036. The notes will be fully and unconditionally guaranteed by the Company. The offering is expected to settle on June 26, 2025, subject to the satisfaction of customary closing conditions.
Kimco intends to use the net proceeds from the offering for general corporate purposes, including, but not limited to, repaying outstanding borrowings under its $2.0 billion unsecured revolving credit facility and funding for suitable acquisition, investment and redevelopment opportunities.
Wells Fargo Securities, LLC, BNP Paribas Securities Corp., PNC Capital Markets LLC, RBC Capital Markets, LLC, Truist Securities, Inc., Barclays Capital Inc., BMO Capital Markets Corp. and TD Securities (USA) LLC served as joint book-running managers in connection with the offering. BNY Mellon Capital Markets, LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC served as senior co-managers in connection with the offering. Morgan Stanley & Co. LLC, Samuel A. Ramirez & Company, Inc., Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc. served as co-managers in connection with the offering.
The offering of the notes is being made pursuant to an effective shelf registration statement, base prospectus and related prospectus supplement. Copies of the base prospectus and prospectus supplement, when available, may be obtained by contacting Wells Fargo Securities, LLC at 1-800-645-3751; BNP Paribas Securities Corp. at 1-800-854-5674; PNC Capital Markets LLC at 1-855-881-0697; RBC Capital Markets, LLC at 1-866-375-6829; or Truist Securities, Inc. at 1-800-685-4786. Investors may also obtain these documents for free by visiting EDGAR on the Securities and Exchange Commission's ('SEC') website at www.sec.gov.
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 Realty®
Kimco Realty® (NYSE: KIM) is a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The company's portfolio is strategically concentrated in the first-ring suburbs of the top major metropolitan markets, including high-barrier-to-entry coastal markets and Sun Belt cities. Its tenant mix is focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value-enhancing redevelopment activities for more than 65 years. With a proven commitment to corporate responsibility, Kimco Realty is a recognized industry leader in this area. As of March 31, 2025, the company owned interests in 567 U.S. shopping centers and mixed-use assets comprising 101 million square feet of gross leasable space.
Safe Harbor Statement
This communication contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words 'believe,' 'expect,' 'intend,' 'commit,' 'anticipate,' 'estimate,' 'project,' 'will,' 'target,' 'plan,' 'forecast' or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which, in some cases, are beyond the Company's control and could materially affect actual results, performance or achievements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to, (i) financial disruption, changes in trade policies and tariffs, geopolitical challenges or economic downturn, including general adverse economic and local real estate conditions, (ii) the impact of competition, including the availability of acquisition or development opportunities and the costs associated with purchasing and maintaining assets, (iii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iv) the reduction in the Company's income in the event of multiple lease terminations by tenants or a failure of multiple tenants to occupy their premises in a shopping center, (v) the potential impact of e-commerce and other changes in consumer buying practices, and changing trends in the retail industry and perceptions by retailers or shoppers, including safety and convenience, (vi) the availability of suitable acquisition, disposition, development, redevelopment and merger opportunities, and the costs associated with purchasing and maintaining assets and risks related to acquisitions not performing in accordance with our expectations, (vii) the Company's ability to raise capital by selling its assets, (viii) disruptions and increases in operating costs due to inflation and supply chain disruptions, (ix) risks associated with the development of mixed-use commercial properties, including risks associated with the development, and ownership of non-retail real estate, (x) changes in governmental laws and regulations, including, but not limited to, changes in data privacy, environmental (including climate change), safety and health laws, and management's ability to estimate the impact of such changes, (xi) valuation and risks related to the Company's joint venture and preferred equity investments and other investments, (xii) collectability of mortgage and other financing receivables, (xiii) impairment charges, (xiv) criminal cybersecurity attack disruptions, data loss or other security incidents and breaches, (xv) risks related to artificial intelligence, (xvi) impact of natural disasters and weather and climate-related events, (xvii) pandemics or other health crises (xviii) our ability to attract, retain and motivate key personnel, (xix) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms to the Company, (xx) the level and volatility of interest rates and management's ability to estimate the impact thereof, (xxi) changes in the dividend policy for the Company's common and preferred stock and the Company's ability to pay dividends at current levels, (xxii) unanticipated changes in the Company's intention or ability to prepay certain debt prior to maturity and/or hold certain securities until maturity, (xxiii) the Company's ability to continue to maintain its status as a REIT for U.S. federal income tax purposes and potential risks and uncertainties in connection with its UPREIT structure, and (xxiv) other risks and uncertainties identified under Item 1A, 'Risk Factors' in our Annual Report on Form 10-K for the year ended December 31, 2024. Accordingly, there is no assurance that the Company's expectations will be realized. The Company disclaims any intention or obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise. You are advised to refer to any further disclosures the Company makes in other filings with the SEC.
CONTACT:David F. BujnickiSenior Vice President, Investor Relations and StrategyKimco Realty Corporation1-833-800-4343dbujnicki@kimcorealty.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
36 minutes ago
- Yahoo
Mastercard (MA) Falters on Stablecoins Passage in Senate
We recently published a list of 10 Stocks Take A Shocking Nosedive. Mastercard Incorporated (NYSE:MA) is one of the worst-performing stocks on Thursday. Mastercard fell by 5.39 percent on Wednesday to end at $538.73 apiece as investors sold off positions on expectations that the Senate's passage of the stablecoins bill would pose a threat to its business. Stablecoins are a type of currency designed to maintain a 1:1 ratio with the US dollar and is widely used by cryptocurrency traders to move funds between tokens. Under the administration of President Donald Trump, Stablecoins gained momentum as an alternative payments method, emerging as a potential competitor to traditional payments companies, including Mastercard Incorporated (NYSE:MA). A woman using a payment terminal at the checkout of a store showing payment products and solutions. In the first quarter of the year, Mastercard Incorporated (NYSE:MA) saw its net income rise to $3.3 billion, higher by 10 percent than the $3 billion registered in the same period last year. Revenues also grew by 15.87 percent to $7.3 billion from $6.3 billion year-on-year. While we acknowledge the potential of MA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
37 minutes ago
- Yahoo
Want to delay RMDs? Check out qualified longevity annuity contracts
Once you hit age 73, IRS rules say you must start taking required minimum distributions (RMDs) from your traditional retirement accounts — even if you don't need the cash and would rather let it grow. These forced withdrawals can trigger unwanted taxes and potentially even bump you into a higher tax bracket. But if you're looking for a legal way to delay some of those RMD headaches, a qualified longevity annuity contract, or QLAC, is one way to do it. Think of a qualified longevity annuity as a way to buy time before RMDs begin with your retirement money — while earmarking guaranteed income for later in life. QLACs were born out of a rule change from the U.S. Treasury. In 2014, they issued regulations allowing specific types of deferred income annuities — QLACs — to be held inside qualified retirement accounts, such as IRAs and 401(k)s. A QLAC is a deferred income annuity you buy with retirement savings and payouts from the insurer begin between age 75 and 85. It's essentially longevity insurance, designed to provide steady income when you're older and more likely to need it. Once you fund a QLAC, those dollars are removed from your retirement plan balance for RMD purposes. That means you can delay taking distributions on that portion of your savings until the annuity starts paying out, no later than age 85. QLACs come with some strict rules you should be aware of when considering one. Funding limits: You can allocate up to $210,000 to a QLAC in 2025, and this figure is generally increased each year for inflation. Payout timeline: Payments must start no later than age 85. You can choose to begin receiving income earlier, but you can't defer past that point. Only income or fixed annuities: Under the law, a QLAC cannot be a variable annuity or fixed index annuity, both of which are considered more complex and riskier options for consumers. Irrevocability: Once you buy a QLAC, you can't access the principal again. It's illiquid and doesn't have a cash surrender value. Death benefit rules: Most QLACs offer a 'return of premium' death benefit instead, which means any unused portion of your original investment is paid out to beneficiaries if you pass away before receiving it all. However, this feature usually reduces your monthly payout. An alternative option is life-only payouts with no refund, giving you higher income while you're alive, but no payout to heirs if you die early. The size of your QLAC payments depends on how much you put into the contract and how many years the money has to grow before payouts begin. The longer you wait to start receiving income — up to age 85 — the larger those payments will typically be. Get matched: Find a financial advisor who can help you maximize your investments When you purchase a qualified longevity annuity contract with money from a traditional IRA or other eligible retirement plan, the amount you invest is excluded from RMD calculations. You don't have to take withdrawals from those dollars starting at age 73 because, under the revised IRS definition, the QLAC itself satisfies the RMD rules. Even though the income payments from a QLAC can be deferred as late as age 85, they are still considered compliant under RMD regulations. That's a big win if you're trying to delay taxable income and avoid unnecessary withdrawals. Because the total balance of your IRA or other qualified account is reduced by the amount you put in your QLAC, RMDs on your other retirement accounts will be smaller, and your taxable income will likely be lower. That can work in your favor, potentially keeping you in a lower tax bracket during retirement. You can buy a QLAC through a direct, tax-free transfer from your retirement account, and it's not counted as a taxable distribution. However while the annuity's investment growth is tax-deferred — just like the retirement account it came from — you will owe income tax eventually once payouts begin. Because you're not required to invest the full $210,000 QLAC cap all at once, you can get creative with how you structure your income. For example, you might buy one QLAC at age 70 with an income start date of 80, then purchase another at age 72 that begins paying out at 85. This staggered approach can help you fine-tune your cash flow in retirement while maintaining flexibility with the rest of your portfolio. Ultimately, QLACs don't eliminate RMDs — but they can carve out a chunk of your retirement savings and delay when Uncle Sam gets his cut. As appealing as QLACs might sound, they're not a perfect fit for everyone. Loss of control: One of the biggest trade-offs is the loss of control over your money. Once you purchase a QLAC, the funds are locked up. You can't tap that money in an emergency or reallocate it to other investments later. The annuity becomes an irrevocable contract with an insurance company, and there's no liquidity. Life expectancy: Another risk is longevity itself. If you don't live long enough to reach the annuity's start date — or only live a few years beyond it — you may get little or nothing out of the contract. No additional tax break: Some critics also argue that QLACs don't offer any new tax advantages. Retirement accounts like IRAs and 401(k)s already offer tax-deferred growth. A QLAC doesn't change that — it only punts a portion of the tax bill further down the road. Other tax strategies: If your goal is to manage your future tax bills, other strategies like Roth conversions or charitable distributions might offer more flexibility without tying up funds for years or even decades. Finally, QLACs simply don't make sense for everyone. If you're in poor health, have a shorter life expectancy, or want to spend your money more freely in the early years of retirement, deferring income until 85 may not align with your goals. QLACs are built for people playing the long game. If that's not you, your money is probably better utilized elsewhere. If you're in your 60s and want to delay RMDs, a QLAC is one way to do that. It defers taxes and provides a stream of guaranteed payments later in life — all while playing by the IRS rule book. QLACs aren't for everyone, but they're one of the few tools that let you legally delay your RMDs. Just be sure you're comfortable locking up the money — and you're prepared for the tax bill once RMDs finally begin. Learn more: Planning to retire in 10 years? Do these 6 things first Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation. Sign in to access your portfolio
Yahoo
43 minutes ago
- Yahoo
OrsoBio to Present Preclinical Data on Mitochondrial Protonophore Portfolio in Models of Obesity at the American Diabetes Association's 85th Scientific Sessions
Data demonstrate the potential of TLC-6740 and TLC-1180 to induce weight loss while preserving lean mass, as monotherapy and in combination with an incretin, in obese mice MENLO PARK, Calif., June 20, 2025--(BUSINESS WIRE)--OrsoBio, Inc. ("OrsoBio" or "the Company"), a clinical-stage biopharmaceutical company developing treatments for obesity and obesity-associated disorders, today announced new preclinical data being presented at the 85th Scientific Sessions of the American Diabetes Association (ADA) being held June 20-23, 2025, in Chicago, Ill. The Company will present three abstracts highlighting the efficacy of its mitochondrial protonophores to induce weight loss and provide glycemic benefits while preserving lean mass in diet-induced obese (DIO) mice. The studies demonstrate the potential of TLC-6740 and TLC-1180—as monotherapy and in combination with the glucagon-like peptide-1 (GLP-1) receptor agonist semaglutide—for both the induction and maintenance of weight loss following incretin treatment. "The mechanism of our mitochondrial protonophores to increase energy expenditure complements that of incretins to enhance and sustain weight loss and provide additive metabolic benefits," said Mani Subramanian, MD, PhD, Chief Executive Officer of OrsoBio. "These preclinical findings mark an important step in fulfilling our mission to develop innovative, effective, oral therapies for obesity that preserve muscle and support cardiometabolic health." OrsoBio is advancing a pipeline of novel therapies targeting obesity through mechanistically distinct and complementary approaches. The Company's lead candidates include TLC-6740 and TLC-1180, both mitochondrial protonophores that promote weight loss by increasing energy expenditure. In addition, OrsoBio is developing TLC-3595, a selective inhibitor of acetyl-CoA carboxylase 2 (ACC2), designed to enhance fat oxidation. "GLP-1 receptor agonists have transformed obesity treatment but are limited by gastrointestinal side effects and loss of muscle mass," said Rob Myers, MD, Chief Medical Officer of OrsoBio. "Our preclinical data show that our mitochondrial protonophores drive sustained, fat-selective weight loss and metabolic benefits when combined with or sequenced after GLP-1 receptor agonists. These findings support our ongoing Phase 1b study of TLC-6740 in combination with tirzepatide (NCT05822544)." Poster information: Sequential Combination of the Mitochondrial Protonophore TLC-6740 With Semaglutide Normalizes Body Weight and Preserves Lean Mass in DIO MiceAbstract #1687-P Poster Session: Monday, June 23, 2025 (12:30 - 1:30 p.m. CT)This preclinical study assessed TLC-6740 alone, in combination with low-dose semaglutide (sequential combination), and as maintenance therapy following semaglutide discontinuation in DIO mice. The sequential combination of TLC-6740 with low-dose semaglutide produced superior body weight and fat mass loss, and improved glycemic parameters compared with TLC-6740 alone and high-dose semaglutide. Initiating TLC-6740 after semaglutide discontinuation maintained body weight and fat mass loss, and glycemic benefits. These findings support evaluation of TLC-6740 in combination with incretins in people living with obesity; a 24-week combination study of TLC-6740 with tirzepatide is ongoing (NCT05822544). De Novo or Sequential Combination of the Mitochondrial Protonophore TLC-1180 With Semaglutide Improves Weight Loss and Preserves Lean Mass in DIO MiceAbstract #1694-P Poster Session: Monday, June 23, 2025 (12:30 - 1:30 p.m. CT)This preclinical study evaluated the effects of TLC-1180 alone, in combination with semaglutide, and as a maintenance treatment following semaglutide discontinuation in DIO mice. As monotherapy, TLC-1180 demonstrated body weight and fat mass loss and preserved lean mass. Body weight and fat mass loss were amplified, and lean mass was preserved with TLC-1180 in combination with semaglutide. These benefits persisted when TLC-1180 was used as a maintenance treatment after semaglutide discontinuation. These data highlight the potential of TLC-1180 as monotherapy, in combination with incretins, or as maintenance therapy post incretin discontinuation in people living with obesity. Novel Combination of a Mitochondrial Protonophore and an Acetyl-CoA Carboxylase 2 (ACC2) Inhibitor Causes Weight Loss and Preserves Lean Mass in Obese MiceAbstract #1686-P Poster Session: Monday, June 23, 2025 (12:30 - 1:30 p.m. CT)This preclinical study evaluated the effects of the mitochondrial protonophore, TLC-1180, and the ACC2 inhibitor, TLC-3595—as monotherapy and in combination—and semaglutide in DIO mice. TLC-3595 dose dependently reduced body weight, fat mass, and liver biochemistry while preserving lean mass in DIO mice. A combination of TLC-3595 with TLC-1180 had similar weight loss efficacy to semaglutide, but preserved lean mass. Taken together, these data suggest that the novel, all-oral, non-incretin combination of TLC-3595 and TLC-1180 may cause similar weight loss to incretins and may afford additional advantages, including improved weight loss quality and/or tolerability (e.g., reduced incidence of gastrointestinal adverse events). About TLC-6740 TLC-6740 is a novel, oral, liver-targeted mitochondrial protonophore in development for the treatment of obesity and obesity-associated diseases, including diabetes and MASH. Based on active hepatic uptake and mitochondrial protonophore activity, TLC-6740 increases energy expenditure in hepatocytes, and is expected to have broad, systemic metabolic and cardiovascular benefits, including weight loss, improved insulin sensitivity, and as a treatment for MASH, and dyslipidemia. TLC-6740 is currently being evaluated in a Phase 1b clinical trial, as monotherapy and in combination with tirzepatide, in patients living with obesity (NCT05822544). About TLC-1180 TLC-1180 is a novel, potent, long-acting mitochondrial protonophore that has been shown to increase energy expenditure in mice with diet-induced obesity (DIO). In preclinical studies of DIO mice, TLC-1180 induced weight loss, improved glucose control, and enhanced the efficacy of GLP-1 receptor agonists, both as a single agent and in combination with incretins. TLC-1180 is currently completing IND-enabling studies and a first-in-human study is expected to initiate in 2025. About TLC-3595 TLC-3595 is a novel and selective ACC2 inhibitor designed to treat obesity and type 2 diabetes by increasing fatty acid oxidation (FAO), reducing ectopic lipid accumulation, and improving insulin sensitivity in skeletal muscle and liver. The compound may also have potential as a treatment for other conditions characterized by impaired FAO, including heart failure with preserved ejection fraction (HFpEF) and metabolic dysfunction-associated steatohepatitis (MASH). About OrsoBio, Inc. OrsoBio, Inc. is a privately held, clinical-stage biopharmaceutical company dedicated to developing therapies to treat obesity and obesity-associated disorders, including type 2 diabetes, MASH, and severe dyslipidemias. OrsoBio currently has four programs in clinical and preclinical development with first-in-class compounds that address central pathways in energy metabolism. For more information, please visit View source version on Contacts Media Contact Gwen GordonGwen@ Sign in to access your portfolio
