National Retail Properties to use new notes to repay credit facility

Chicago, Feb. 18 – National Retail Properties, Inc. will use proceeds from its new offering of $700 million of notes sold in two tranches on Tuesday to fully repay outstanding debt under its credit facility, according to an FWP filing with the Securities and Exchange Commission and a press release.

The company will also use proceeds to redeem all of the company’s $325 million outstanding 3.8% notes due 2022, to fund future property acquisitions and for general corporate purposes.

National Retail Properties is an Orlando-based real estate investment trust.

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