Stocks to Keep Your Eyes on: Kimco Realty Corp (NYSE:KIM), Kraft Heinz Co (NASDAQ:KHC)

On Wednesday, Shares of Kimco Realty Corp (NYSE:KIM), saubtract -2.00% and closed at $25.48 in the last trading session. The last trading range of the stock ranges between $24.76 and $25.66. Kimco Realty Corp. (KIM) recently declared its public offering of: (i) $400 million aggregate principal amount of notes due 2024 (the “2024 notes”) at a coupon of 2.700% per annum with an effective yield of 2.778%, maturing March 1, 2024; and (ii) $350 million aggregate principal amount of notes due 2046 (the “2046 notes”) at a coupon of 4.125% per annum with an effective yield of 4.171%, maturing December 1, 2046. The offering is expected to settle on November 10, 2016, subject to customary closing conditions.

The company intends to use the net proceeds of about $739.3 million for general corporate purposes, counting to (i) repay up to $400.0 million of the company’s borrowings under our $650.0 million unsecured term loan maturing in January 2017 (subject to three one-year extension options), which borrowings bear interest at a rate of LIBOR plus .950% (1.47% as of September 30, 2016); and (ii) pre-fund 2017 debt maturities, counting $505.6 million of mortgage debt outstanding with a weighted average interest rate of 5.6%, and any associated prepayment penalties. Before the repayment of the 2017 debt maturities, proceeds from this offering may be used for any purpose, counting to temporarily reduce borrowings (of which $225.0 million were outstanding as of September 30, 2016) under the company’s revolving credit facility maturing in March 2018 (subject to two six-month extension options), which borrowings bear interest at a rate of one-month LIBOR plus 0.925% (1.45% as of September 30, 2016).

Kraft Heinz Co (NASDAQ:KHC), dropped -3.85% and closed at $84.94 in the last trading session. The last trading range of the stock ranges between $84.18 and $86.97. The company’s Market capitalization is $106.17 Billion with the total Outstanding Shares of 1.22 Billion. The Kraft Heinz Company (KHC) (“Kraft Heinz” or the “Company”) recently stated third quarter 2016 financial results that reflected a combination of noteworthygains from cost savings and the redemption of preferred stock, in addition to lower taxes as compared to the prior year period.

“Overall, our third quarter results are a good representation of where we are as a company,” said Kraft Heinz CEO Bernardo Hees. “While our financial performance is respectable, we continue to have the opportunity to improve our offerings and retail execution in several key markets and take our brands to places they don’t presently compete. Our focus now is to finish 2016 strong and set the stage for another year of strong, profitable growth in 2017.”

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