Global Net Lease (GNL) prices $500 million bond offering.

Global Net Lease (GNL) announced today that it has priced a $500 million offering of 3.75% senior unsecured notes due 2027.  The offering is being conducted under Rule 144A.  GNL said that proceeds would be used to repay borrowings under its revolving credit and term loan facilities.  The bonds are rated BB+/BB+ by Fitch and S&P.

Global Net Lease is an equity REIT focusing on the acquisition of triple-net leased properties.  As of September 30, 2020, the company had an enterprise value of $3.5 billion.