American Finance Trust proposes $400 million senior note offering

By William Gullotti

Buffalo, N.Y., Sept. 27 – American Finance Trust, Inc., along with its operating partnership subsidiary American Finance Operating Partnership, LP, announced plans to issue $400 million senior notes with a seven-year tenor, according to a press release on Monday.

The notes will be guaranteed by each of the subsidiary guarantors named in the operating partnership’s unsecured revolving credit facility.

Proceeds from the proposed offering will be used to repay borrowings under the revolver, to repay certain mortgage notes and to fund future property acquisitions as well as general corporate purposes.

The proposed notes and related guarantees will not be registered with the SEC and will only be available to qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A and to certain persons in offshore transactions in reliance on Regulation S.

American Finance is a New York-based real estate investment trust.

© 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.