- National Retail Properties (NNN -1.9%) priced its $450M public offering of 3.500% senior unsecured notes due 2051 (Apr.15); notes were offered at 98.132% of the principal amount with a yield to maturity of 3.602%.
- Interest payable semi-annually, commencing on Oct.15, 2021.
- Net proceeds to be used for redeeming all of its outstanding 3.30% notes due 2023, to fund future property acquisitions and for general corporate purposes.
- Offer expected to close on or about Mar.10.
- Separately, the company intends to redeem all 3.30% outstanding notes due 2023 on Mar.12, 2021; notes will be redeemed in cash at a price equal to 100% of the principal amount of notes.
- As of Mar. 2, 2021, ~$350M principal amount of notes remained outstanding.