Realty Income brings rare sterling bond from US issuer

By Mike Turner
23 Sep 2020

Realty Income, the US Reit, visited the sterling market for a long 10 year bond on Wednesday, and deal-hungry investors piled in.

Realty Income, rated A3/A-, opened books for a benchmark December 2030 trade at 170bp over Gilts. 

Bookrunners Barclays, Credit Suisse and Goldman Sachs amassed demand of £1.2bn and the issuer set the amount at £400m.

The deal was priced 20bp inside initial price thoughts at 150bp over.  

Realty Income will use ...

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