New Issue: Store Capital details $350 million 4.5% notes due 2028 at Treasuries plus 170 bps

By Devika Patel

Knoxville, Tenn., March 9 – Store Capital Corp. offered further details about a $350 million sale of 4.5% senior notes due 2028 that priced at 99.515 on Thursday, according to an FWP filed with the Securities and Exchange Commission.

The notes came to market at a spread of Treasuries plus 170 bps and will yield 4.561%.

Goldman Sachs & Co., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, Citigroup, J.P. Morgan, KeyBanc Capital Markets and SunTrust Robinson Humphrey were the bookrunners.

Proceeds will be used for property acquisitions, to repay debt under the company’s unsecured revolving credit facility, for working capital and for other general corporate purposes.

Store Capital is a real estate investment trust based in Scottsdale, Ariz.

Issuer:	Store Capital Corp.
Issue:	Senior notes
Amount:	$350 million
Maturity:	March 15, 2028
Bookrunners:	Goldman Sachs & Co., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, Citigroup, J.P. Morgan, KeyBanc Capital Markets and SunTrust Robinson Humphrey
Co-managers:	BMO Capital Markets, Capital One Securities and Regions Securities LLC
Coupon:	4.5%
Price:	99.515
Yield:	4.561%
Spread:	Treasuries plus 170 bps
Call:	Make-whole call at Treasuries plus 30 bps until Dec. 15, 2027, then a par call
Pricing date:	March 8
Settlement date:	March 15
Ratings:	Moody’s: Baa2
	S&P: BBB
	Fitch: BBB
Distribution:	Off shelf

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