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Print Text: A A

Topics Financial / AP

National Retail Properties prices stock offering

By AP | November 30, 2011

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ORLANDO, Fla. (AP) — National Retail Properties Inc. has priced a public offering of 7 million shares of its common stock at $25.75 per share, a 2.5 percent discount from their latest closing price.

The real estate investment trust said late Tuesday that it plans to use the offering's net proceeds to pay back borrowings under its credit facility, to fund future acquisitions and for general corporate purposes.

At the stated price, the offering would raise about $180 million before expenses. The company's shares closed at $26.42 on Tuesday before the pricing was announced.

National Retail Properties, which owns and leases single-tenant retail sites, is giving the underwriters a 30-day option to buy up to about 1.1 million additional shares.

The offering is expected to close on Monday.

National Retail Properties, based in Orlando, Fla., owned 1,298 investment properties in 47 states as of Sept. 30.

Print Text: A A

Topics Financial / AP

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