ORLANDO, Fla., Oct. 14, 2015 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN) (the "Company") today announced that it has priced its public offering of $400,000,000 of 4.00% senior unsecured notes due 2025. The notes were offered at 99.759% of the principal amount with a yield to maturity of 4.029%. Interest on the notes will be payable semi-annually on May 15 and November 15 of each year, commencing May 15, 2016. The offering is expected to close on October 21, 2015, subject to customary closing conditions.
The Company intends to use the net proceeds from the offering to repay outstanding indebtedness under its credit facility, to fund future property acquisitions and for general corporate purposes.
Citigroup Global Markets Inc., Wells Fargo Securities, LLC, RBC Capital Markets, LLC, U.S. Bancorp Investments, Inc. and SunTrust Robinson Humphrey, Inc. are acting as joint book-running managers for the offering. BB&T Capital Markets, a division of BB&T Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, and PNC Capital Markets LLC are acting as senior co-managers for the offering. Capital One Securities, Inc. and Raymond James & Associates, Inc. are acting as co-managers for the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities 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 the registration or qualification under the securities laws of any such state or other jurisdiction.
The offering is being made only by means of a prospectus supplement and accompanying prospectus, which are part of an effective shelf registration statement the Company filed with the Securities and Exchange Commission ("SEC"). Copies of these documents, when available, may be obtained by contacting Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146 or email: [email protected]; Wells Fargo Securities, LLC, 608 2nd Avenue, South Minneapolis, MN 55402 Attn: WFS Customer Service, telephone: (800) 645-3751 or email: [email protected] ; or RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, New York 10281, Attn: Debt Capital Markets, telephone: (866) 375-6829 or email: [email protected].
National Retail Properties, Inc. invests primarily in high-quality properties subject generally to long-term, net leases. As of June 30, 2015, the Company owned 2,138 properties in 47 states with a gross leasable area of approximately 23.7 million square feet and with a weighted average remaining lease term of 11.4 years.
Statements in this press release that are not strictly historical are "forward-looking" statements. Forward-looking statements involve known and unknown risks, which may cause the Company's actual future results to differ materially from expected results. For example, the fact that this offering has priced may imply that this offering will close, but the closing is subject to conditions customary in transactions of this type and may be delayed or may not occur at all. No assurance can be given that the offering discussed above will be completed on the terms described or at all, or that the net proceeds of the offering will be used as indicated. Completion of the offering on the terms described, and the application of the net proceeds of the offering, are subject to numerous possible events, factors and conditions, many of which are beyond the control of the Company and not all of which are known to us. Additional risks and information concerning these and other factors that could cause actual results to differ materially from these forward-looking statements are contained from time to time in the Company's SEC filings, including, but not limited to, the Company's Annual Report on Form 10-K. Copies of each filing may be obtained from the Company or the SEC. Such forward-looking statements should be regarded solely as reflections of the Company's current operating plans and estimates. Actual results may differ materially from what is expressed or implied in this press release. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.
SOURCE National Retail Properties, Inc.