ORLANDO, FL, June 5,
2013 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN) (the
"Company") today announced that it is notifying holders of its 5.125%
Convertible Senior Notes due 2028 ("Notes") that the Company will
redeem all outstanding Notes on July 11, 2013.
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, July 11, 2013.
As of June 5, 2013, approximately $222.9 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 39.536 shares
of Common Stock per $1,000 principal amount of Notes, which is equal to a
current conversion price of approximately $25.29 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 July 9, 2013.
The notice of redemption containing the information required
by the terms of the Indenture governing the Notes was sent to registered
holders of the Notes on June 5, 2013.
U.S. Bank National Association will act both as the paying agent for
redeemed Notes and as the conversion agent for converted Notes.
For a complete copy of the company’s news release, please
contact:
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