NEW YORK, Oct. 15, 2014 /PRNewswire/ -- American Realty Capital Properties, Inc. ("ARCP") (NASDAQ: ARCP) announced today that its subsidiary and operating partnership, ARC Properties Operating Partnership, L.P. (the "Company"), has extended to 5:00 p.m., Eastern time, on October 16, 2014, the offer to exchange $2,550,000,000 aggregate principal amount of the Company's 2.000% senior notes due 2017, 3.000% senior notes due 2019 and 4.600% senior notes due 2024 (the "Original Notes") for $2,550,000,000 aggregate principal amount of its 2.000% senior notes due 2017, 3.000% senior notes due 2019 and 4.600% senior notes due 2024 (the "Exchange Notes") that have been registered under the Securities Act of 1933 (the "Securities Act").
The Company is offering to issue the Exchange Notes to satisfy its obligations contained in the Registration Rights Agreement entered into when the Original Notes were sold in transactions exempt from registration under the Securities Act and therefore not registered with the Securities and Exchange Commission ("SEC"). The terms and conditions of the exchange offer are set forth in the Company's prospectus dated September 12, 2014.
The exchange offer had been scheduled to expire at 5:00 p.m., Eastern time, on Tuesday, October 14, 2014, unless further extended by the Company. As of 5:00 p.m., Eastern time, on October 14, 2014, the Company had been advised that 100% of the 2.000% senior notes due 2017, approximately 99.78% of the 3.000% senior notes due 2019 and 100% of the 4.600% senior notes due 2024 had been validly tendered to the exchange agent by the holders thereof. The extension is intended to allow additional time for holders of the remaining outstanding notes to tender their outstanding notes in the exchange offer.
The exchange agent for the offer is U.S. Bank Corporate Trust Services. Contact information for the exchange agent is 111 Fillmore Ave. E., Saint Paul, MN 55107-1402, Attention: Specialized Finance, (800) 934-6802.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The Company is a subsidiary and the operating partnership of ARCP, which is its sole general partner. ARCP is a self-managed publicly traded real estate investment trust, organized as a Maryland corporation, listed on The NASDAQ Global Select Market, focused on acquiring and owning single-tenant freestanding commercial properties subject to net leases with high credit quality tenants.
Caution Concerning Forward-Looking Statements
Information set forth herein (including information included or incorporated by reference herein) contains "forward-looking statements" (as defined in Section 21E of the Securities Exchange Act of 1934, as amended), which reflect ARCP's expectations regarding future events. The forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements include, but are not limited to, market and other expectations, objectives, intentions, and any expectations with respect to estimates of growth. Additional factors that may affect future results are contained in ARCP's filings with the SEC, which are available at the SEC's website at www.sec.gov. ARCP disclaims any obligation to update and revise statements contained in these materials based on new information or otherwise.
SOURCE American Realty Capital Properties, Inc.