ORLANDO, FL, Nov. 7, 2012 /PRNewswire/ -- National Retail
Properties, Inc. (NYSE: NNN) (the "Company") today announced that it
is notifying holders of its 3.95% Convertible Senior Notes due 2026
("Notes") that the Company will redeem all outstanding Notes on
December 10, 2012.
The Notes will be redeemed in cash at a price equal to 100%
of the principal amount of Notes being redeemed, plus accrued and unpaid
interest to, but excluding, December 10, 2012.
As of November 6, 2012, approximately $38.1 million aggregate principal
amount of Notes remained outstanding.
The Company also announced that holders may elect to convert
all or a portion of the Notes into cash and, if applicable, shares of the
Company's common stock, par value $0.01 per share ("Common Stock"). The current conversion rate for the Notes is
42.624 shares of Common Stock per $1,000 principal amount of Notes, which is
equal to a current conversion price of approximately $23.46 per share of Common
Stock.
Holders wishing to
convert such Notes must satisfy the requirements for conversion set forth in
the Indenture and surrender such Notes for conversion no later than 5:00 p.m.
(New York City time) on December 6, 2012.
Contact: investorrelations@nnnreit.com
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