PHOENIX, Oct. 4, 2018 /PRNewswire/ -- VEREIT, Inc. (NYSE:
VER) ("VEREIT") announced today that its operating partnership,
VEREIT Operating Partnership, L.P. (the "Operating Partnership"
and, together with VEREIT, the "Company"), priced an offering of
$550 million aggregate principal
amount of 4.625% senior notes due 2025 (the "Notes") at an issue
price of 99.328% of par value. Interest on the Notes will be
payable in cash and will accrue at a rate of 4.625% 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 October 16,
2018, subject to the satisfaction of customary closing
conditions.
The Operating Partnership intends to use the net proceeds from
the offering of Notes to repay borrowings under its revolving
credit facility contemporaneously with, or shortly after, the
closing of the offering.
Wells Fargo Securities, LLC, BMO Capital Markets Corp., J.P.
Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, SMBC Nikko Securities America, Inc., U.S. Bancorp
Investments, Inc., Barclays Capital Inc., Capital One Securities,
Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC,
Mizuho Securities USA LLC, Morgan
Stanley & Co. LLC and Regions Securities LLC are acting as
joint book-running managers, and BNY Mellon Capital Markets, LLC,
KeyBanc Capital Markets Inc., Comerica Securities, Inc., Janney
Montgomery Scott LLC and FTN Financial Securities Corp 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 55402 or
by calling 800-645-3751; BMO Capital Markets Corp. at 3 Times
Square, 27th Floor, Attn: US Syndicate, New York, NY 10036, or by calling
866-864-7760; J.P. Morgan Securities LLC at 383 Madison Ave., Attn:
Investment Grade Syndicate Desk, New
York, NY 10179 or by calling 212-834-4533; Merrill Lynch,
Pierce, Fenner & Smith Incorporated at 200 North College
Street, NC1-004-03-43, Attn: Prospectus Department, Charlotte, NC 28255 or by calling
800-294-1322; SMBC Nikko Securities America, Inc. at 277 Park
Avenue, Attn: Securities Operations, New
York, NY 10172; or by calling 888-868-6856; U.S. Bancorp
Investments, Inc. at 214 N Tryon St, 26th Floor, Attn:
Credit Fixed Income, Charlotte, NC
28202 or by calling 877-558-2607; or by visiting the EDGAR database
on the SEC's web site at www.sec.gov.
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.
About the Company
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 United
States. VEREIT's business model provides equity capital to
creditworthy corporations in return for long-term leases on their
properties. VEREIT is a publicly traded Maryland corporation listed on the New York
Stock Exchange.
Forward-Looking Statements
Information set forth herein contains "forward-looking
statements" (within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended), which reflect the Company's expectations
regarding future events. Generally, words such as "may," "will,"
"seek," "expects," "anticipates," "believes," "targets," "intends,"
"should," "estimates," "could," "continue," "assume," "projects,"
"plans," "goals" or variations of such words and similar
expressions identify forward-looking statements. The
forward-looking statements involve a number of assumptions, risks,
uncertainties and other factors which are difficult to predict, may
be beyond the Company's control and that could cause actual results
to differ materially from those contained in the forward-looking
statements. Such forward-looking statements include, but are not
limited to, statements regarding the closing of the offering of the
Notes and the use of proceeds therefrom. The following
factors, among others, could cause actual results to differ from
those set forth in the forward-looking statements: the Operating
Partnership's ability to close the offering of Notes; the actual
use of proceeds therefrom; and the other factors contained in the
Company's filings with the SEC, which are available at the SEC's
website at www.sec.gov. The Company disclaims any obligation to
publicly update or revise any forward-looking statements contained
in this press release, whether as a result of changes in underlying
assumptions or factors, new information, future events or
otherwise, except as required by law.
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SOURCE VEREIT, Inc.