National Retail to repay credit facility debt with proceeds of notes

By Wendy Van Sickle

Columbus, Ohio, Oct. 14 – National Retail Properties, Inc. plans to repay borrowings under its credit facility with some proceeds from an offering of senior notes, according to a 424B5 filed with the Securities and Exchange Commission.

As of Sept. 30, the company had $282.4 million of borrowings outstanding under its credit facility, which currently accrues interest at 1.119%. The facility matures Jan. 31, 2019 and has a one-year extension option.

National Retail plans to use remaining proceeds, if any, from the note offering to fund future property acquisitions and for general corporate purposes.

The real estate investment trust for retail properties is based in Orlando.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.