Vereit to conduct sale of senior notes to repay revolver borrowings

By Devika Patel

Knoxville, Tenn., Oct. 4 – Vereit Operating Partnership LP plans to sell dollar-denominated senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes have a make-whole call and then a par call.

Wells Fargo Securities LLC, BofA Merrill Lynch, BMO Capital Markets Corp., J.P. Morgan Securities LLC, SMBC Nikko Securities America Inc. and U.S. Bancorp Investments Inc. are the bookrunners.

Proceeds will be used to repay debt under the company’s revolving credit facility.

Vereit is a Phoenix-based owner and manager of a portfolio of retail, restaurant, office and industrial real estate assets.

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