NNN REIT offers fixed-rate notes due 2033 to repay bank debt

Chicago, Aug. 8 – NNN REIT, Inc. is offering fixed-rate notes due 2033, according to a 424B5 filing with the Securities and Exchange Commission on Tuesday.

The issuer may redeem the notes early via a make-whole call until the notes become callable at par during the three months before the maturity date.

BofA Securities, Inc., Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, and U.S. Bancorp Investments, Inc. are leading the sale.

PNC Capital Markets LLC, RBC Capital Markets, LLC, TD Securities (USA) LLC and Truist Securities, Inc. will also be working to place the notes.

U.S. Bank Trust Co., NA will be the trustee.

NNN is using Pillsbury Winthrop Shaw Pittman LLP for counsel. Vinson & Elkins LLP is advising the underwriters.

Proceeds will be used to repay all outstanding debt under the company’s credit facility, to fund future property acquisitions and for general corporate purposes.

As of June 30, the company had $4.1 billion of outstanding debt, none of which was secured.

The company is an Orlando, Fla.-based real estate investment trust. The previous name for the company was National Retail Properties, Inc.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.