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VEREIT, Inc. announced that its operating partnership, VEREIT Operating Partnership, L.P. (the “Operating Partnership” and, together with VEREIT, the “Company”), priced an offering of $600 million<\/span> aggregate principal amount of 3.40% senior notes due 2028 (the “Notes”) at an issue price of 99.144% of par value. Interest on the Notes will be payable in cash and will accrue at a rate of 3.40% per annum. The Notes will be senior unsecured obligations of the Operating Partnership, guaranteed by VEREIT. The offering of Notes is expected to close on June 29, 2020<\/span>, subject to the satisfaction of customary closing conditions.<\/p>\n The Operating Partnership intends to use the net proceeds from the offering of the Notes to (i) make a distribution to VEREIT to fund the redemption of approximately $100 million<\/span> of VEREIT’s 6.70% Series F Cumulative Redeemable Preferred Stock and (ii) repay borrowings under its revolving credit facility contemporaneously with or shortly after the closing of the offering. In addition, the Operating Partnership may use a portion of the net proceeds from the offering, together with borrowings under its revolving credit facility or cash on hand, to make a distribution to VEREIT to fund the purchase of a portion of or the repayment at maturity of VEREIT’s 3.75% Convertible Senior Notes due 2020. These intentions are subject to change.<\/p>\n Wells Fargo Securities, LLC, Barclays Capital Inc., BofA Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities USA<\/span> LLC, U.S. Bancorp Investments, Inc., BMO Capital Markets Corp., Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Regions Securities LLC and SMBC Nikko Securities America, Inc. are acting as joint book-running managers, and BNY Mellon Capital Markets, LLC, KeyBanc Capital Markets Inc., Comerica Securities, Inc., FHN Financial Securities Corp. and Janney Montgomery Scott LLC are acting as co-managers for the offering of the Notes. The offering of the Notes was made under an effective shelf registration statement of VEREIT and the Operating Partnership previously filed with the Securities and Exchange Commission (“SEC”). When available, a copy of the final prospectus supplement and prospectus relating to the offering may be obtained from Wells Fargo Securities, LLC at 608 2nd Avenue South, Suite 1000, Attn: WFS Customer Service, Minneapolis, MN<\/span> 55402 or by calling 800-645-3751; Barclays Capital Inc., c\/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY<\/span> 11717, telephone: (888) 603-5847 or email: barclaysprospectus@broadridge.com; BofA Securities, Inc. at 200 North College Street, NC1-004-03-43, Attn: Prospectus Department, Charlotte, NC<\/span> 28255 or by calling 800-294-1322; J.P. Morgan Securities LLC at 383 Madison Ave., Attn: Investment Grade Syndicate Desk, New York, NY<\/span> 10179 or by calling 212-834-4533; Mizuho Securities USA<\/span> LLC at 1271 Avenue of the Americas, New York, NY<\/span> 10020, Attention: Debt Capital Markets; U.S. Bancorp Investments, Inc. at 214 N. Tryon Street<\/span>, 26th Floor, Charlotte, North Carolina<\/span> 28202, Attention: Credit Fixed Income; or by calling 1-877-558-2607; or by visiting the EDGAR database on the SEC’s web site at www.sec.gov. <\/p>\n This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of VEREIT or the Operating Partnership, nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any such offer or sale will be made only by means of the prospectus supplement and prospectus forming part of the effective registration statement relating to these securities.<\/em><\/p>\n About the Company Tags:<\/b> http:\/\/www.vereit.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
<\/strong>VEREIT is a full-service real estate operating company which owns and manages one of the largest portfolios of single-tenant commercial properties in the U.S. The Company has total real estate investments of $14.8 billion<\/span> including approximately 3,900 properties and 89.5 million square feet. VEREIT’s business model provides equity capital to creditworthy corporations in return for long-term leases on their properties.<\/p>\nSee Campaign: <\/strong>http:\/\/http:\/\/www.vereit.com<\/a>
Contact Information:<\/b>
http:\/\/www.vereit.com<\/p>\n
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\nContact Information:<\/h3>\n
VEREIT, Inc. announced that its operating partnership, VEREIT Operating Partnership, L.P. (the “Operating Partnership” and, together with VEREIT, the “Company”), priced an offering of $600 million aggregate principal amount of 3.40% senior notes due 2028 (the “Notes”) at an issue price of 99.144% of par value. Interest on the Notes will be payable in cash and will … Continue reading VEREIT® Announces Pricing of $600 Million of Senior Notes<\/span><\/a> Continue Reading