Latham & Watkins Represents Realty Income Corporation in US$2.6 Billion Exchange Offer and Consent Solicitations

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.