Realty Income announces $750M convertible notes offering; Q2 invested $2.6B

REALTY INCOME CORP

Offering $750M convertible senior notes due 2031; initial purchasers option for additional $112.5M.
Proceeds used for capped call transactions, concurrent share repurchases, and general corporate purposes.
Q2 2026 investments: ~$2.6B total, $2.1B pro-rata, at initial weighted avg cash yield ~7.3%.
Capped call transactions expected to reduce potential dilution from conversion of notes.
Notes are senior unsecured; conversion settled in cash up to principal, excess in stock/cash at company's election.

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