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January 24, 2026
Latham & Watkins Represents Realty Income Corporation in US$2.6 Billion Exchange Offer and Consent Solicitations
1 min
AI-made summary
- Realty Income Corporation has completed exchange offers for all notes issued by Spirit Realty, L.P., exchanging them for new notes from Realty Income
- The company also secured consents from Spirit Notes holders to amend the indenture, removing most restrictive covenants
- The total amount of Spirit Notes tendered was approximately US$2.7 billion
- The final settlement occurred on January 23, 2024
- Latham & Watkins LLP advised Realty Income on the transaction.
Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, has settled its exchange offers for any and all notes (collectively, the Spirit Notes) issued by Spirit Realty, L.P., in exchange for new notes to be issued by Realty Income. In addition, Realty Income has consummated the related solicitation of consents from holders of the Spirit Notes to amend the indenture governing each series of Spirit Notes to, among other things, eliminate substantially all of the restrictive covenants in such indenture. The aggregate amount of Spirit Notes tendered in the exchange offer (across all series of Spirit Notes) was US$2.69706 billion. The final settlement of the Exchange Offers took place on January 23, 2024. Latham & Watkins LLP represented Realty Income in the exchange offerings with a corporate team led by New York partner Andrew Baker and Orange County partner Darren Guttenberg, with associates Hana Nah, Angel Marcial, and Yulong Li. Advice was also provided on tax matters by New York partner Jiyeon Lee-Lim and Century City partner Ana O’Brien, with associate Kathryn Harrington; and on finance matters by Los Angeles partner Kenneth Askin.~~
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