NNN REIT, INC. (NNN): debt financing — NNN REIT closes $500M offering of 5.600% notes due 2033

NNN REIT, INC.

Aggregate principal $500M, 5.600% interest, matures October 15, 2033.
Net proceeds approximately $483.9M after underwriting discount and expenses.
Proceeds to repay credit facility, fund property acquisitions, and general corporate purposes.
Notes are senior unsecured obligations, rank equally with existing and future senior debt.
Underwriting syndicate led by BofA Securities, Wells Fargo, Citigroup, Morgan Stanley, U.S. Bancorp.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NNN REIT, INC. incurred senior notes of $500 million aggregate principal amount with BofA Securities, Inc., Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, and U.S. Bancorp Investments, Inc., as representatives of the several underwriters at 5.600% per annum maturing October 15, 2033.

Instrument: senior notes
Principal: $500 million aggregate principal amount
Counterparty: BofA Securities, Inc., Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, and U.S. Bancorp Investments, Inc., as representatives of the several underwriters
Rate: 5.600% per annum
Maturity: October 15, 2033
Event: incurrence

Exact text from the filing

the Company agreed to sell $500 million aggregate principal amount of 5.600% notes due 2033 (the “Notes”) in an underwritten public offering. The offering of the Notes closed on August 15, 2023.

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NNN REIT, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-213439

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