National Retail Properties issues $450M of 3% notes due 2052; to redeem Series F preferred stock

NNN REIT, INC.

Closed $450M offering of 3.000% notes due April 15, 2052; net proceeds ~$434.4M after underwriting discount and expenses.
Proceeds to redeem all 13.8M outstanding depositary shares of its 5.200% Series F Cumulative Redeemable Preferred Stock.
Remaining net proceeds will fund future property acquisitions and general corporate purposes.
Interest payable semi-annually on April 15 and October 15, starting April 15, 2022.

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