ORLANDO, Fla., December 6, 2016 – National Retail Properties, Inc. (NYSE: NNN) (the “Company”) today announced that it has priced its public offering of $350,000,000 of 3.60% senior unsecured notes due 2026. The notes were offered at 98.897% of the principal amount with a yield to maturity of 3.733%. Interest on the notes will be payable semi-annually on June 15 and December 15 of each year, commencing June 15, 2017. The offering is expected to close on or about December 12, 2016, subject to customary closing conditions.
Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, SunTrust Robinson Humphrey, Inc., U.S. Bancorp Investments, Inc., Jefferies, LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. BB&T Capital Markets, a division of BB&T Securities, LLC, Morgan Stanley & Co. LLC, Capital One Securities, Inc. and Raymond James & Associates, Inc. are acting as senior co-managers for the offering.
The Company intends to use the net proceeds from the offering to repay all of the outstanding indebtedness under its credit facility. In addition, the Company intends to use the remainder of the net proceeds from this offering to fund future property acquisitions and for general corporate purposes.
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