$50 Million of Unsecured Notes Issued At 7.834% by Commercial Net Lease Realty, Inc.Business Editors/Real Estate Writers ORLANDO, Fla.--(BUSINESS WIRE)--June 5, 2002 Commercial Net Lease Realty, Inc. (NYSE NYSE See: New York Stock Exchange :NNN NNN Triple Net (method of computing real estate costs among commercial rental properties; lease) NNN Nippon News Network (Japan) NNN Newspaper National Network LP NNN Novy-MacNeal-Nicolle ), an equity real estate investment trust, announced today the sale of $50 million of 7.75% senior unsecured notes due 2012. The notes were priced at 99.426% of par value to yield 7.834% which was 280 basis points over the 10-year U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. rate. Proceeds will be used to pay down borrowings under the Company's existing bank credit facility. The offering was managed by Wachovia Securities Wachovia Securities, located in Richmond, Virginia (soon to be moved to St. Louis), is the third largest brokerage firm in the United States as of 2006 with $689 billion retail client assets under management. It is a subsidiary of Wachovia Corporation. . Commercial Net Lease Realty, an equity real estate investment trust, invests in high-quality, freestanding retail properties subject to long-term, net leases with major retail tenants, such as Barnes & Noble, Best Buy, Eckerd and OfficeMax. The Company currently owns, either directly or through investment interests, 357 properties in 40 states with total gross leasable area Gross leasable area (GLA) in the retail development industry is a term applied to shopping malls, lifestyle centers, outlet malls and other retail centers to indicate the amount of floor space available to be rented. of approximately 6.6 million square feet. These properties are leased to 105 retailers in 34 lines of trade. |
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