JERICHO, N.Y., June 10, 2026 (GLOBE NEWSWIRE) -- Kimco Realty® (NYSE:KIM) today announced that its operating subsidiary, Kimco Realty OP, LLC ("Kimco OP"), intends to offer, subject to market and other conditions, $500,000,000 aggregate principal amount of exchangeable senior notes due 2031 (the "notes") in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Kimco Realty Corporation ("Kimco") will fully and unconditionally guarantee the notes on a senior, unsecured basis. Kimco OP also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $75,000,000 aggregate principal amount of notes.

The notes will be senior, unsecured obligations of Kimco OP, will accrue interest payable semi-annually in arrears and will mature on June 15, 2031, unless earlier repurchased, redeemed or exchanged. Noteholders will have the right to exchange their notes in certain circumstances and during specified periods. Kimco OP will settle exchanges in cash and, if applicable, shares of Kimco's common stock.

The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Kimco OP's option at any time, and from time to time, on or after June 20, 2029 and on or before the 25th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Kimco's common stock exceeds 130% of the exchange price for a specified period of time and certain other conditions are satisfied. In addition, the notes will be redeemable, in whole or in part (subject to certain limitations), at Kimco OP's option at any time to the extent necessary to preserve Kimco's status as a real estate investment trust for U.S. federal income tax purposes, so long as certain conditions are satisfied. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, ...