NNN REIT, Inc. (NYSE: NNN) today announced that it has priced its public offering of $500,000,000 of 5.600% senior unsecured notes due 2033. The notes were offered at 97.676% of the principal amount with a yield to maturity of 5.905%. Interest on the notes will be payable semi-annually on April 15 and October 15 of each year, commencing on April 15, 2024. The notes mature on October 15, 2033. The offering is expected to close on or about August 15, 2023, subject to customary closing conditions. BofA Securities, Inc., Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, U.S. Bancorp Investments, Inc., PNC Capital Markets LLC, RBC Capital Markets, LLC, TD Securities (USA) LLC, and Truist Securities, Inc. are acting as joint book running-managers and Capital One Securities, Inc., Raymond James & Associates, Inc., and Stifel, Nicolaus & Company, Incorporated are acting as senior co-managers for the offering. The Company intends to use the net proceeds from the offering of the notes to repay all of the outstanding indebtedness under its credit facility, to fund future property acquisitions and for general corporate purposes.
The offering is being made only by means of a prospectus supplement and accompanying prospectus, which are part of an effective shelf registration statement the Company filed with the Securities and Exchange Commission ("SEC"). You may obtain copies of these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, copies of these documents, when available, may be obtained by contacting BofA Securities, Inc., 201 North Tryon Street, NC1-022-02-25, Charlotte, NC 28255-0001, Attn: Prospectus Department, by telephone: 1-800-294-1322 or by email at [email protected]; Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, by email [email protected], or by calling toll-free at 1-800-645-3751; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone: 1-800-831-9146 or by email: [email protected]; Morgan Stanley & Co. LLC, 1585 Broadway, 6th Floor, New York, New York 10036, by telephone: 1-866-718-1649 or by email: [email protected]; U.S. Bancorp Investments, Inc., by telephone: 1-877-558-2607. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
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