NNN REIT issues $500M of 5.500% senior notes due 2034

NNN REIT, INC.

Issued $500M aggregate principal of 5.500% notes due June 15, 2034; net proceeds of $489.4M after discounts.
Interest payable semi-annually on June 15 and December 15, beginning December 15, 2024.
Proceeds to repay outstanding credit facility, fund property acquisitions, and for general corporate purposes.
Underwriting led by BofA Securities, Wells Fargo, PNC Capital Markets, TD Securities, and Truist Securities.
Offering closed May 29, 2024; notes are senior unsecured obligations ranking equally with existing senior debt.

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