Vereit to pay down credit facilities with stock offering proceeds

By Wendy Van Sickle

Columbus, Ohio, Aug. 4 – Vereit, Inc. plans to repay amounts outstanding under its $300 million senior secured term loan facility and its $3.3 billion unsecured credit facility with proceeds from a public offering of 50 million shares of its common stock.

The company will also use proceeds for general corporate purposes, according to a press release.

Vereit is a Phoenix-based manager of retail, restaurant, office and industrial real estate assets.

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