National Retail to fund credit facility pay down with notes proceeds

By Ashley Montgomery

Kansas City, Kan., Aug. 7 - National Retail Properties, Inc. plans to use the proceeds from its offering of notes due 2022 to repay its credit facility, according to a filing with the Securities and Exchange Commission.

The company said it owed $154.6 million under the facility as of Monday. The facility matures on May 24, 2015.

Any remaining proceeds will be used for future acquisitions and general corporate purposes.

National Retail Properties is a real estate investment trust based in Orlando, Fla.

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