News Archive

News Archive

02/18/2020

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.