STORE Capital Announces Pricing of $350.0 Million Senior Unsecured Notes Offering
Scottsdale, Ariz. – In a recent business update, STORE Capital LLC, an internally managed net-lease real estate investment trust (REIT), declared that it has successfully priced a $350.0 million offering of senior unsecured notes. These notes will bear an interest rate of 5.40%.
Details of the Offering
The notes were priced at 99.935% of the principal amount and will mature on April 30, 2030. STORE Capital intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment or refinancing of existing indebtedness.
Impact on STORE Capital
This offering represents a strategic move for STORE Capital as it continues to strengthen its balance sheet and diversify its sources of capital. By issuing senior unsecured notes, the REIT can extend its debt maturity profile and potentially reduce its borrowing costs. Additionally, the proceeds from the offering can be used to fund new investments, further expanding the company’s portfolio of single-tenant operational real estate.
Impact on the World
The real estate market, particularly the net-lease sector, has been a significant contributor to economic growth and stability in recent years. STORE Capital’s successful offering of $350.0 million in senior unsecured notes is a positive sign for the sector. It demonstrates investor confidence in the net-lease market and its ability to generate stable cash flows. Furthermore, the proceeds from this offering can be used to fund new real estate projects, potentially contributing to the creation of jobs and economic growth.
Conclusion
STORE Capital’s successful pricing of a $350.0 million senior unsecured notes offering is a testament to the strength of the net-lease real estate sector and investor confidence in the asset class. This strategic move allows STORE Capital to extend its debt maturity profile, potentially reduce borrowing costs, and fund new investments. Additionally, the proceeds from this offering can contribute to economic growth by funding new real estate projects and potentially creating jobs. Overall, this offering is a positive development for STORE Capital and the net-lease real estate market as a whole.
- STORE Capital successfully priced a $350.0 million senior unsecured notes offering.
- The notes bear an interest rate of 5.40% and will mature on April 30, 2030.
- Proceeds from the offering will be used for general corporate purposes, including potential repayment or refinancing of existing indebtedness and funding new investments.
- This offering is a positive sign for the net-lease real estate sector and demonstrates investor confidence in the asset class.
- The proceeds from this offering can contribute to economic growth by funding new real estate projects and potentially creating jobs.
