National Retail Properties (NNN) prices $700 million senior notes.
National Retail Properties, Inc. (NNN) announced today that it has priced a two-part offering of senior unsecured notes. The offering includes:
* $400 million 2.50% senior notes due 2030. The notes were sold at 99.678% to yield 2.536%, or a spread of +98 basis points.
* $300 million 3.10% senior notes due 2050. The notes were sold at 97.978% to yield 3.205%, or a spread of +120 basis points.
National Retail is an equity REIT specializing in the acquisition of net-lease retail properties across the U.S. The portfolio includes 3,118 properties in 48 states supporting a current enterprise value of approximately $12.6 billion.
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* $400 million 2.50% senior notes due 2030. The notes were sold at 99.678% to yield 2.536%, or a spread of +98 basis points.
* $300 million 3.10% senior notes due 2050. The notes were sold at 97.978% to yield 3.205%, or a spread of +120 basis points.
National Retail is an equity REIT specializing in the acquisition of net-lease retail properties across the U.S. The portfolio includes 3,118 properties in 48 states supporting a current enterprise value of approximately $12.6 billion.
02/18/2020