The Bull Case For Realty Income (O) Could Change Following $1 Billion Convertible Notes And Buyback Plan
Earlier this month, Realty Income Corporation completed a private offering of US$1.00 billion in 3.750% convertible senior notes due 2031, using part of the proceeds for a US$750.00 million–plus share repurchase and planning to allocate the remainder toward debt repayment, property acquisitions, and portfolio expansion. An interesting angle is the use of capped call transactions alongside the…