VEREIT (VER) prices $600 million senior notes offering.
VEREIT (VER) announced today that it had priced an offering of $600 million 3.10% senior unsecured notes due 2029. The notes will be issued by VER's principal operating subsidiary, VEREIT Operating Partnership, L.P. Proceeds from the note offering will be used to refinance short-term debt, including redemption of VER's outstanding 4.125% senior notes due 2021 and partial redemption of the company's 3.75% convertible notes due 2020. The note offering follows VER's announcement yesterday that it has reached a settlement agreement with the SEC over legacy accounting practices, which will include an $8 million payment to the SEC as a civil penalty.
VEREIT is a large-cap equity REIT specializing in net-lease properties. The company's current portfolio comprises 3,926 retail, industrial, and office properties in 49 states with a total enterprise value of approximately $16.4 billion.
VEREIT is a large-cap equity REIT specializing in net-lease properties. The company's current portfolio comprises 3,926 retail, industrial, and office properties in 49 states with a total enterprise value of approximately $16.4 billion.
11/19/2019