Trustreet Properties to repay revolver debt using bond add-on proceeds

By Sara Rosenberg

New York, Sept. 12 - Trustreet Properties Inc. plans to repay some debt under its revolving credit facility using proceeds from the proposed $50 million add-on to its 7½% senior notes offering, according to a company news release.

However, following the paydown, the company intends to draw down additional funds under its revolver and its warehouse credit facility to finance its pending acquisition of a portfolio of restaurant properties, which it expects to close in the near future.

Trustreet is an Orlando, Fla.-based self-advised restaurant real estate investment trust.

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