National Retail Properties amends loan, lifting size, cutting pricing

By Sara Rosenberg

New York, Oct. 31 - National Retail Properties Inc. amended its unsecured credit facility, increasing the borrowing capacity to $500 million from $450 million and lowering pricing to Libor plus 117.5 basis points from Libor plus 150 bps, according to a news release.

The facility matures in October 2016 and includes a one year extension option.

There is a $500 million accordion feature.

Wells Fargo Securities LLC and Bank of America Merrill Lynch acted as the lead arrangers and bookrunners on the deal.

National Retail Properties is an Orlando, Fla.-based real estate investment trust that invests primarily in high-quality retail properties subject generally to long-term net leases.

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