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Kimco Closes $400M Unsecured Term Loan

NEW HYDE PARK, NY-Kimco’s VP of investor relations tells GlobeSt.com David F. Bujnicki tells GlobeSt.com that the monies will be used for “general corporate purposes” and repayment of upcoming debt—but no specific property targets.

By Jacqueline Hlavenka | Updated on April 18, 2012

NEW HYDE PARK, NY-Shortly after disposing of $215 million worth of shopping centers, New Hyde Park-based Kimco Realty Corp. closed on a new $400 million unsecured term loan, GlobeSt.com has confirmed with the Long Island retail REIT. The loan is scheduled to mature on April 17, 2014 with three additional one-year options to extend the maturity date at Kimco’s discretion to April 17, 2017, according to a statement from the company.

David F. Bujnicki, vice president of investor relations and corporate communications at Kimco, tells GlobeSt.com that the unsecured loan’s proceeds will be used toward “general corporate purposes,” which also includes the repayment of upcoming debt maturities.

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