Kimco Announces Sale of Valad Convertible Notes; Summarizes 2011 Major Transaction Activity (KIM)

Kimco Realty Corporation KIM announced today that it has sold its remaining interest in the Valad convertible notes to an affiliate of Blackstone Real Estate Advisors VI L.P. for A$165 million plus any unpaid accrued interest. Proceeds from this transaction will be used to partially repay the balance on the company's U.S. revolving credit facility.