NNN REIT, Inc. Successfully Prices $500 Million Senior Unsecured Notes Offering

NNN REIT, Inc. Prices $500 Million of Senior Unsecured Notes

On June 24, 2025, NNN REIT, Inc. (NYSE: NNN), recognized as a leading real estate investment trust, announced a significant financial move in the form of a public offering that will raise $500 million through the issuance of senior unsecured notes. These notes, carrying an interest rate of 4.600%, are scheduled to mature on February 15, 2031. They were offered at 99.182% of the principal amount, translating to a maturity yield of 4.766%.

This offering is noteworthy not just for the amount raised but also for how it aligns with NNN’s strategic objectives. The company intends to use the net proceeds from this offering primarily to repay outstanding debts under its credit facility. Furthermore, the funds are earmarked for making future property acquisitions and supporting general corporate initiatives.

Interest payments on these notes will be conducted semi-annually, commencing on February 15, 2026, and will occur every February 15 and August 15 thereafter until maturity.

The closing of this offering is anticipated on or around July 1, 2025, pending customary closing conditions. A group of esteemed financial institutions are engaged in the transaction, acting both as joint book-running managers and co-managers. Among them are BofA Securities, Inc., Wells Fargo Securities, LLC, and RBC Capital Markets, among others. This demonstrates a robust backing and confidence from the financial community in NNN REIT's prospects.

NNN REIT has built an impressive portfolio, having owned 3,641 properties across all 50 states by March 31, 2025, collectively boasting a gross leasable area of approximately 37.3 million square feet. The company typically engages in long-term, net leases, minimizing ongoing capital expenditures which is a strategic advantage. The average remaining lease term across its portfolio stands at about 9.9 years, reflecting stability in its revenue streams.

Investors and shareholders should note that all offerings and transactions comply with the rules set forth by the Securities and Exchange Commission (SEC). For anyone interested in detailed financial documents related to this offering, they can be found on the SEC's EDGAR database. This offering constitutes a significant opportunity for investors looking to engage with NNN REIT as it looks to innovate and expand its presence in the real estate market.

About NNN REIT, Inc.

NNN REIT focuses on purchasing high-quality properties that are generally subject to long-term leases. The company has strategically positioned itself in the real estate market, enabling it to maintain a diversified portfolio with long-duration income streams. As they continue to grow, NNN REIT plans to leverage offerings like the current notes issuance to not only stabilize but also expand its operational capacity and growth potential.

This development emphasizes a trend in the broader real estate landscape, where investment trusts are consistently tapping into capital markets to fuel their growth while navigating the complexities of economic conditions. Stakeholders in the real estate investment space should keep a close eye on how this offering impacts not just NNN REIT's immediate liquidity, but its longer-term growth trajectory and competitive positioning against peers.