NNN REIT Prices Public Offering Of $500M Of 5.600% Senior Unsecured Notes Due 2033
Portfolio Pulse from Benzinga Newsdesk
NNN REIT has priced a public offering of $500M of 5.600% senior unsecured notes due 2033. The notes were offered at 97.676% of the principal amount with a yield to maturity of 5.905%. Interest on the notes will be payable semi-annually on April 15 and October 15 of each year, starting from April 15, 2024. The notes mature on October 15, 2033.
August 09, 2023 | 5:32 am
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NEUTRAL IMPACT
NNN REIT's public offering of $500M senior unsecured notes could impact the company's financial stability and liquidity. The notes were offered at 97.676% of the principal amount, indicating a potential increase in the company's debt.
The public offering of senior unsecured notes by NNN REIT could potentially increase the company's debt, which may impact its financial stability. However, it could also provide the company with additional liquidity, which could be beneficial for its operations and future investments.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100