ORLANDO, Fla., Dec. 6, 2016 /PRNewswire/ -- National Retail
Properties, Inc. (NYSE: NNN) (the "Company") today announced that
it has priced its public offering of $350,000,000 of 3.60% senior unsecured notes due
2026. The notes were offered at 98.897% of the principal
amount with a yield to maturity of 3.733%. Interest on the
notes will be payable semi-annually on June
15 and December 15 of each
year, commencing June 15, 2017.
The offering is expected to close on or about December 12, 2016, subject to customary closing
conditions.
Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner
& Smith Incorporated, Wells Fargo Securities, LLC, SunTrust
Robinson Humphrey, Inc., U.S. Bancorp Investments, Inc., Jefferies,
LLC and RBC Capital Markets, LLC are acting as joint book-running
managers for the offering. BB&T Capital Markets, a
division of BB&T Securities, LLC, Morgan Stanley & Co. LLC,
Capital One Securities, Inc. and Raymond
James & Associates, Inc. are acting as senior
co-managers for the offering.
The Company intends to use the net proceeds from the offering to
repay all of the outstanding indebtedness under its credit
facility. In addition, the Company intends to use the remainder of
the net proceeds from this offering to fund future property
acquisitions and for general corporate purposes.
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"). You may obtain
copies of these documents for free by visiting EDGAR on the SEC's
website at www.sec.gov. Alternatively, 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: prospectus@citi.com; Merrill
Lynch, Pierce, Fenner & Smith Incorporated, 200 North College
Street, 3rd Floor, NC1-004-03-43, Charlotte, NC 28255-0001, Attention:
Prospectus Department, by telephone at 1-800-294-1322, or by email
at dg.prospectus_requests@baml.com; Wells Fargo Securities, LLC,
608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn:
WFS Customer Service, telephone: (800) 645-3751 or email:
wfscustomerservice@wellsfargo.com; SunTrust Robinson Humphrey,
Inc., 303 Peachtree Street, Atlanta,
Georgia 30308, Attn: Prospectus Dept., telephone:
1-800-685-4786 or email: STRHdocs@SunTrust.com or U.S. Bancorp
Investments, Inc., 214 N. Tyron St., 26th Floor, Charlotte, NC 28202, telephone:
1-877-558-2607.
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 jurisdiction.
National Retail Properties, Inc. invests primarily in
high-quality retail properties subject generally to long-term, net
leases. As of September 30, 2016, the
Company owned 2,485 properties in 48 states with an aggregate gross
leasable area of approximately 26.6 million square feet and with a
weighted average remaining lease term of 11.5 years.
Statements in this press release that are not strictly
historical are "forward-looking" statements. These statements
generally are characterized by the use of terms such as "believe,"
"expect," "intend," "may," "estimated," or other similar words or
expressions. 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 this offering will be used as described. Completion of this
offering on the terms described, and the application of the net
proceeds of this offering, are subject to numerous possible events,
factors and conditions, many of which are beyond the control of the
Company or of which are unknown to it. These risks include, among
others, general economic conditions, local real estate conditions,
changes in interest rates, increases in operating costs, the
preferences and financial condition of the Company's tenants, the
availability of capital and risks related to the Company's status
as a REIT. Additional information concerning these and other
factors that could cause actual results to differ materially from
these forward-looking statements is 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 operating
results may differ materially from what is expressed or forecast in
this press release. National Retail Properties, Inc. 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.
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SOURCE National Retail Properties, Inc.