Comments Off on National Retail Properties, Inc. Prices Offering Of $400,000,000 Of 4.300% Senior Unsecured Notes Due 2028 And $300,000,000 Of 4.800% Senior Unsecured Notes Due 2048

ORLANDO, Fla., September 18, 2018 – National Retail Properties, Inc. (NYSE: NNN) (the “Company”) today announced that it has priced its public offering of $400,000,000 of 4.300% senior unsecured notes due 2028 (the “2028 notes”) and $300,000,000 of 4.800% senior unsecured notes due 2048 (the “2048 notes” and, together with the 2028 notes, the “notes”). The 2028 notes were offered at 99.288% of the principal amount with a yield to maturity of 4.388%. The 2048 notes were offered at 98.587% of the principal amount with a yield to maturity of 4.890%. Interest on the notes will be payable semi-annually on April 15 and October 15 of each year, commencing April 15, 2019. The 2028 notes mature on October 15, 2028. The 2048 notes mature on October 15, 2048. The offering is expected to close on or about September 27, 2018, subject to customary closing conditions.

Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, Morgan Stanley & Co. LLC, U.S. Bancorp Investments, Inc., Jefferies LLC, RBC Capital Markets, LLC and SunTrust Robinson Humphrey, Inc. are acting as joint book-running managers for the offering. BB&T Capital Markets, a division of BB&T Securities, LLC, TD Securities (USA) LLC, Capital One Securities, Inc. and Raymond James & Associates, Inc. are acting as senior co-managers for the offering.

The Company intends to use the net proceeds from the offering of the notes to repay all of the outstanding indebtedness under its credit facility, to redeem all of its outstanding 5.500% notes due 2021 and to fund future property acquisitions and for general corporate purposes. This press release does not constitute a notice of redemption under the indenture governing such 5.500% notes due 2021.

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