ORLANDO, FL /PRNewswire-FirstCall/ -- National Retail Properties, Inc. (NYSE: NNN) (the "Company"), has announced it intends to make a public offering of $200 million principal amount of convertible senior notes due 2028. As part of the offering, the Company expects to grant the underwriters an overallotment option to purchase up to an additional $30 million principal amount of notes.
The notes are registered under the Company's existing shelf registration statement filed with the Securities and Exchange Commission ("SEC"). (Kevin B. Habicht, chief financial officer, executive vice president and treasurer, photo top right)
The notes will be senior unsecured obligations of the Company and will be convertible, subject to various conditions, into cash and at the Company's option, cash, common stock or a combination thereof. The Company expects to use the net proceeds from the sale of the notes to repay borrowings under its credit facility and the remainder to fund future acquisitions and for general corporate purposes.
Citigroup Global Markets Inc., Banc of America Securities LLC and Wachovia Securities are the joint bookrunning managers for the proposed offering.
The exact timing and terms of the offering will depend on market conditions and other factors.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other 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 other jurisdiction.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other 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 other jurisdiction.
When available, copies of the prospectus and the prospectus supplement, subject to completion, relating to these securities may be obtained from Citigroup Global Markets Inc., Banc of America Securities LLC and Wachovia Securities. You should direct any requests to Citigroup Global Markets Inc., 388 Greenwich Street, New York, New York 10013, by phone: 718-765-6732 or by fax: 718-765-6734, Banc of America Securities LLC, 9 W. 57th Street, New York, NY 10019, and/or to Wachovia Securities, 375 Park Avenue, New York, NY 10152.
You may also obtain a copy of the prospectus and the prospectus supplement, subject to completion, and other documents the Company has filed with the SEC for free by visiting the Commission's web site at http://www.sec.gov/.
NNN acquires, owns, invests in, manages and develops properties that are leased primarily to retail tenants under long-term net leases. As of December 31, 2007, NNN owned 908 Investment Properties, with an aggregate leasable area of 10.6 million square feet, located in 44 states.
For more information on the Company, visit http://www.nnnreit.com/.
SOURCE:
SOURCE:
National Retail Properties, Inc.
Contact:
Kevin B. Habicht, (photo top right)
Chief Financial Officer
of National Retail Properties, Inc.,
+1-407-650-1230
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