STORE Capital Announces Pricing of $350 Million Public Offering of 2.750% Senior Notes Due 2030
November 16 2020 - 6:15PM
Business Wire
STORE Capital Corporation (NYSE: STOR) (the “Company”), an
internally managed net-lease real estate investment trust (REIT)
that invests in Single Tenant Operational
Real Estate, announced today that it has priced a
$350 million public offering of 2.750% senior notes due 2030. The
notes were priced at 99.558% of the principal amount and will
mature on November 18, 2030. Interest on the notes will be paid
semi-annually on May 18 and November 18 of each year, beginning May
18, 2021. The offering is expected to close on November 18, 2020,
subject to customary closing conditions.
The Company intends to use the net proceeds from this offering
to repay indebtedness, including amounts outstanding under its 2017
$100 million term credit agreement and its STORE Master Funding
Series 2015-1 Class A-1 notes, to fund property acquisitions, for
working capital and other general corporate purposes, or a
combination of the foregoing.
Morgan Stanley, Wells Fargo Securities, Goldman Sachs & Co.
LLC and J.P. Morgan are serving as joint book-running managers for
the offering. Capital One Securities, KeyBanc Capital Markets,
Regions Securities LLC, US Bancorp, Citigroup, Truist Securities,
BMO Capital Markets and Raymond James are serving as co-managers
for the offering.
The offering of these securities will be made only by means of a
prospectus supplement and accompanying prospectus. A copy of the
preliminary prospectus supplement, final prospectus supplement
(when available) and the accompanying prospectus may be obtained
from: Morgan Stanley & Co. LLC, via standard mail: Morgan
Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY
10014, Attention: Prospectus Department; Wells Fargo Securities,
LLC, via telephone: (800) 645-3751, email:
wfscustomerservice@wellsfargo.com, or standard mail: Wells Fargo
Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN
55402, Attention: WFS Customer Service; Goldman Sachs & Co.
LLC, via telephone: (866) 471-2526, email:
prospectus-ny@ny.email.gs.com, or standard mail: Goldman Sachs
& Co. LLC, 200 West Street, New York, NY 10282, Attention:
Prospectus Department; or J.P. Morgan Securities LLC, via standard
mail: 383 Madison Avenue, New York, NY 10179, Attention: Investment
Grade Syndicate Desk, or via telephone: (212) 834-4533.
A registration statement relating to these securities became
effective upon filing with the Securities and Exchange Commission
under the Securities Act of 1933, as amended. This press release
does not constitute an offer to sell or the solicitation of an
offer to buy, nor will there be any sale of these securities in any
state or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
About STORE Capital
STORE Capital Corporation is an internally managed net-lease
REIT that is the leader in the acquisition, investment and
management of Single Tenant Operational Real Estate, which is its
target market and the inspiration for its name. The Company is one
of the largest and fastest growing net-lease REITs and owns a
well-diversified portfolio that consists of investments in more
than 2,500 property locations across the United States,
substantially all of which are profit centers.
Forward-Looking Statements
Certain statements contained in this press release that are not
historical facts, including statements relating to the expected
closing of the offering and the intended use of proceeds from the
proposed offering, contain forward-looking statements.
Forward-looking statements can be identified by the use of words
such as “estimate,” “anticipate,” “expect,” “believe,” “intend,”
“may,” “will,” “should,” “seek,” “approximate” or “plan,” or the
negative of these words and phrases or similar words or phrases.
Forward-looking statements, by their nature, involve estimates,
projections, goals, forecasts and assumptions and are subject to
risks and uncertainties that could cause actual results or outcomes
to differ materially from those expressed in the forward-looking
statements. For more information on risk factors for the Company’s
business, please refer to the periodic reports and prospectuses and
prospectus supplements the Company files with the Securities and
Exchange Commission from time to time. These forward-looking
statements herein speak only as of the date of this press release
and should not be relied upon as predictions of future events. The
Company expressly disclaims any obligation or undertaking to update
or revise any forward-looking statements contained herein, to
reflect any change in the Company’s expectations with regard
thereto, or any other change in events, conditions or circumstances
on which any such statement is based, except as required by
law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201116006068/en/
Financial Profiles, Inc. STORECapital@finprofiles.com Investors
or Media: Moira Conlon, 310-622-8220 Lisa Mueller, 310-622-8231
STORE Capital (NYSE:STOR)
Historical Stock Chart
From Mar 2024 to Apr 2024
STORE Capital (NYSE:STOR)
Historical Stock Chart
From Apr 2023 to Apr 2024