Kimco Realty Corporation Announces Pricing of $350 Million 3.125% Notes Due 2023

  Kimco Realty Corporation Announces Pricing of $350 Million 3.125% Notes Due

Business Wire

NEW HYDE PARK, N.Y. -- May 14, 2013

Kimco Realty Corp. (NYSE: KIM) today announced its public offering of $350
million notes due 2023 at a coupon of 3.125 percent per annum with an
effective yield of 3.211 percent, maturing June 1, 2023. The company intends
to use the net proceeds of approximately $345 million from the offering for
general corporate purposes, including to (i) partially reduce borrowings
($499.5 million as of March 31, 2013) under its revolving credit facility
maturing in October 2015, which borrowings bear interest at a rate of
one-month LIBOR plus 1.05% (1.25% as of March 31, 2013), (ii) replace
indebtedness under its $100 million aggregate principal amount of 6.125%
Senior Notes due January 2013, which were repaid at maturity, and (iii)
pre-fund near-term maturities, including its (a) $75 million aggregate
principal amount of 4.70% Senior Notes due June 2013, (b) $100 million
aggregate principal amount of 5.19% Senior Notes due October 2013 and (c) $67
million of mortgage debt maturing during 2013 with a weighted average interest
rate of 5.93%.

J.P. Morgan Securities LLC, Barclays Capital Inc., Morgan Stanley & Co. LLC
and RBC Capital Markets, LLC served as the joint book-running managers for
this offering. Citigroup Global Markets Inc., Deutsche Bank Securities Inc.,
Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Securities LLC and
Wells Fargo Securities, LLC served as the senior co-managers. BNY Mellon
Capital Markets, LLC, Credit Suisse Securities (USA) LLC, PNC Capital Markets
LLC, Regions Securities LLC, SunTrust Robinson Humphrey, Inc. and U.S. Bancorp
Investments, Inc. served as the co-managers.

The offering was made pursuant to an effective shelf registration statement,
prospectus and related prospectus supplement. Copies of the prospectus
supplement and the base prospectus, when available, may be obtained by
contacting J.P. Morgan Securities LLC collect at 212-834-4533, Barclays
Capital Inc. toll free at 888-603-5847, Morgan Stanley & Co. LLC toll free at
866-718-1649 or RBC Capital Markets, LLC toll free at 866-375-6829.

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.


Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT)
headquartered in New Hyde Park, N.Y., that owns and operates North America’s
largest portfolio of neighborhood and community shopping centers. As of March
31, 2013, the company owned interests in 895 shopping centers comprising 131
million square feet of leasable space across 44 states, Puerto Rico, Canada,
Mexico and South America. Publicly traded on the NYSE since 1991, and included
in the S&P 500 Index, the company has specialized in shopping center
acquisition, development and management for more than 50 years.


The statements in this 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 that could 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 for 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, (vii) risks related to the company’s international
operations, (viii) the availability of suitable acquisition and disposition
opportunities, (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, including but not limited to the company’s Annual Report on Form 10-K
for the year ended December 31, 2012 and the company’s Quarterly Report on
Form 10-Q for the quarter ended March 31, 2013. 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, 2012 and the
company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2013,
in each case as may be updated or supplemented in the company’s filings with
the SEC, which discuss these and other factors that could adversely affect the
company’s results.


Kimco Realty Corp.
David F. Bujnicki, 1-866-831-4297
Vice President, Investor Relations and Corporate Communications
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