National Retail Properties (NNN) prices $700 million senior notes.
National Retail Properties, Inc. (NNN) 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.