Orlando, FL - National Retail Properties, Inc. (NYSE: NNN)
(the “Company”) announced that it has closed an underwritten public offering of
11,500,000 depositary shares, each representing a 1/100th interest in a share
of its newly designated 5.70% Series E Cumulative Redeemable Preferred Stock,
at a price of $25.00 per depositary share, which reflects the full exercise of
the underwriters’ option to purchase 1,500,000 additional depositary shares.
The Company
estimates that the net proceeds from the offering will be approximately $277.6
million, after deducting the underwriting discount and estimated offering
expenses. The Company intends to use
the net proceeds from the offering for general corporate purposes, which may
include funding future property acquisitions.
Citigroup Global Markets Inc., Merrill Lynch,
Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC and
Raymond James & Associates, Inc. acted as joint book-running managers for
the offering.
RBC Capital Markets, LLC, Stifel, Nicolaus & Company,
Incorporated, Robert W. Baird & Co. Incorporated, BB&T Capital Markets,
a division of BB&T Securities, LLC, PNC Capital Markets LLC, U.S. Bancorp
Investments, Inc., Capital One Southcoast, Inc., Janney Montgomery Scott LLC
and Ladenburg Thalmann & Co. Inc. acted as co-managers for the offering.
National Retail
Properties invests primarily in high-quality retail properties subject
generally to long-term, net leases. As
of March 31, 2013, the company owned 1,636 properties in 47 states with a gross
leasable area of approximately 19.3 million square feet.
For a complete copy of the company’s news release, please
contact:
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