NNN REIT (National Retail Properties) will repay $270.5 million loan

Chicago, Aug. 8 – NNN REIT, Inc., previously named National Retail Properties, Inc., will repay borrowings under a credit facility from a new notes offering, according to a 424B5 filing with the Securities and Exchange Commission.

There was $270.5 million outstanding as of Aug. 8 on the credit facility that matures in June 2025. The current interest rate was 6.185%.

BofA Securities, Inc., Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and U.S. Bancorp Investments, Inc. are lenders and agents on the credit facility.

The banks are leading the sale of the notes offering that will be used to repay the loan.

Other use for the proceeds include future property acquisitions and general corporate purposes.

NNN is an Orlando, Fla.-based real estate investment trust.

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