American Finance to sell $400 million seven-year notes on Wednesday; initial talk mid-4% area

By Paul A. Harris

Portland, Ore., Sept. 28 – American Finance Trust, Inc. plans to price a $400 million offering of seven-year senior bullet notes (BB+) on Wednesday, according to market sources.

Initial guidance has the deal coming to yield in the mid-4% area.

KeyBanc Capital Markets Inc. is leading the Rule 144A and Regulation S offering.

The New York-based real estate investment trust plans to use the proceeds to repay debt under its revolver, to repay certain mortgage notes, to fund future property acquisitions and for general corporate purposes.

American Finance Trust is focused on commercial properties.

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