National Retail Properties Announces Convertibility Of Notes
National Retail Properties (NYSE: NNN) (the "Company") today announced that the market price condition on its 3.95% Convertible Senior Notes due 2026 ("Notes") has been satisfied, and that the Notes will be convertible during the calendar quarter beginning October 1, 2012. The Notes are currently convertible at a rate of 42.543 shares of the Company's common stock per $1,000 principal amount of Notes. Pursuant to the terms of the indenture, the conversion rate is subject to certain adjustments during the period in which the Notes are convertible.
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of June 30, 2012, the company owned 1,506 properties in 47 states with a gross leasable area of approximately 17.8 million square feet. For more information on the company, visit www.nnnreit.com.
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