National Retail: No 5.125% convertibles due 2028 put by holders

By Toni Weeks

San Luis Obispo, Calif., June 17 - National Retail Properties, Inc. announced that none of its 5.125% convertible senior notes due 2028 were put back to the company by holders during the put period that began April 1, according to a press release.

Holders of the notes had the opportunity to surrender their notes for purchase by 5 p.m. ET on June 10 and withdraw any notes previously surrendered by 10 a.m. ET on June 14.

As previously reported, the company has already called the notes and will redeem all of them at par plus accrued interest on July 11.

Holders may convert the notes at a rate of 39.536 shares of the company's common stock per $1,000 principal amount, equivalent to a conversion price of $25.29.

Holders who wish to convert their notes must do so by 5 p.m. ET on July 9.

The company's stock (NYSE: NNN) closed at $36.17 on March 28. It was $36.06 on Monday

About $222.9 million of the notes are currently outstanding.

National Retail Properties is a real estate investment trust that invests primarily in retail properties. It is based in Orlando, Fla.

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