Broadstone Net Lease (BNL) prices $375 million senior note offering.

Broadstone Net Lease, Inc. (BNL) announced today that it has priced an offering of $375 million 2.600% senior unsecured notes due 2031.  The notes were priced at a discount to yield 2.621% or +128 basis points to the treasury curve and reflect expected ratings of Baa2/BBB from Moody's and S&P.  The company said that proceeds from the offering would be used to refinance outstanding bank debt and "fund potential acquisition opportunities."

As of June 30, 2021, BNL had a total enterprise value of approximately $5.4 billion.