American Finance to pay down revolver with asset-backed note offering

Chicago, May 31 – American Finance Trust, Inc. announced that it plans to use proceeds from a new asset-backed note offering to refinance assets currently financed under its revolving unsecured corporate credit facility.

The real estate investment trust closed on $121 million 3.8% seven-year class A-1 notes and $121 million 4.5% 10-year class A-2 notes.

The first asset-backed note offering by American Finance extended the weighted average life of its debt from 3.8 to 4.2 years.

American Finance is a New York-based real estate investment trust focused on acquiring a diversified portfolio of commercial properties, with an emphasis on single-tenant buildings with net leases across the United States.

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