ORLANDO, FL /PRNewswire/ -- National Retail Properties, Inc.
(NYSE: NNN) (the "Company") announced that the market price condition
on its 3.95% Convertible Senior Notes due 2026 ("Notes") has been
satisfied, and that the Notes will be convertible during the calendar quarter
beginning October 1, 2012.
The Notes are currently convertible at a rate of 42.543
shares of the Company's common stock per $1,000 principal amount of Notes. Pursuant to the terms of the indenture, the
conversion rate is subject to certain adjustments during the period in which
the Notes are convertible.
National Retail Properties invests primarily in high-quality
retail properties subject generally to long-term, net leases. As of June 30,
2012, the company owned 1,506 properties in 47 states with a gross leasable
area of approximately 17.8 million square feet.
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