Kimco OP prices $525M 3.50% exchangeable notes; upsized from $500M, $104.7M share repurchase

Kimco Realty OP, LLC

Principal upsized to $525M; 3.50% interest, due June 15, 2031; settlement June 15, 2026.
Initial exchange price ~$32.36/share, 27.5% premium over $25.38 close on June 10, 2026.
Net proceeds ~$513.5M; $104.7M used to buy 4,125,900 shares concurrently.
Initial purchasers can buy up to $75M additional notes; notes guaranteed by Kimco Realty Corp.
Remaining proceeds for debt repayment, acquisitions, investments, and redevelopment.

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