Agree Realty Announces $625 Million Commercial Paper Program
Agree Realty (NYSE: ADC) has announced the establishment of a $625 million commercial paper program through its subsidiary, Agree Partnership. The program will enable the issuance of short-term, unsecured commercial paper notes in the U.S. market.
The notes will have equal ranking with the Issuer's other senior unsecured debt and will be fully guaranteed by the Company and certain subsidiaries. The proceeds will support general corporate purposes, with the Company's $1.25 billion revolving credit facility serving as a liquidity backstop.
This strategic move aims to diversify the Company's balance sheet and is expected to provide cost advantages compared to their existing revolving credit facility.
Agree Realty (NYSE: ADC) ha annunciato l'istituzione di un programma di commercial paper da 625 milioni di dollari attraverso la sua controllata, Agree Partnership. Il programma consentirà l'emissione di note di commercial paper a breve termine e non garantite nel mercato statunitense.
Le note avranno lo stesso rango del debito senior non garantito dell'Emittente e saranno completamente garantite dalla Società e da alcune controllate. I proventi supporteranno scopi aziendali generali, con la linea di credito revolving da 1,25 miliardi di dollari della Società che fungerà da supporto di liquidità.
Questa mossa strategica mira a diversificare il bilancio della Società e si prevede che fornirà vantaggi in termini di costi rispetto alla loro attuale linea di credito revolving.
Agree Realty (NYSE: ADC) ha anunciado el establecimiento de un programa de papel comercial de 625 millones de dólares a través de su subsidiaria, Agree Partnership. El programa permitirá la emisión de notas de papel comercial a corto plazo y no garantizadas en el mercado estadounidense.
Las notas tendrán el mismo rango que la otra deuda senior no garantizada del Emisor y estarán completamente garantizadas por la Compañía y ciertas subsidiarias. Los ingresos apoyarán propósitos corporativos generales, con la línea de crédito revolving de 1.25 mil millones de dólares de la Compañía sirviendo como respaldo de liquidez.
Este movimiento estratégico tiene como objetivo diversificar el balance de la Compañía y se espera que ofrezca ventajas de costo en comparación con su línea de crédito revolving existente.
Agree Realty (NYSE: ADC)는 그 자회사인 Agree Partnership을 통해 6억 2500만 달러 규모의 상업 어음 프로그램을 설립한다고 발표했습니다. 이 프로그램은 미국 시장에서 단기 무담보 상업 어음 노트를 발행할 수 있게 해줍니다.
노트는 발행자의 다른 선순위 무담보 채무와 동등한 순위를 가지며, 회사와 특정 자회사에 의해 완전히 보증됩니다. 수익금은 일반 기업 목적을 지원하며, 회사의 12억 5000만 달러 규모의 회전 신용 시설이 유동성 백스톱 역할을 할 것입니다.
이 전략적 조치는 회사의 대차대조표를 다양화하는 것을 목표로 하며, 기존의 회전 신용 시설에 비해 비용상의 이점을 제공할 것으로 예상됩니다.
Agree Realty (NYSE: ADC) a annoncé l'établissement d'un programme de papier commercial de 625 millions de dollars par l'intermédiaire de sa filiale, Agree Partnership. Le programme permettra l'émission de billets de papier commercial à court terme non garantis sur le marché américain.
Les billets auront le même rang que les autres dettes senior non garanties de l'Émetteur et seront totalement garantis par la Société et certaines filiales. Les produits soutiendront des fins corporatives générales, la ligne de crédit revolving de 1,25 milliard de dollars de la Société servant de soutien à la liquidité.
Ce mouvement stratégique vise à diversifier le bilan de la Société et devrait offrir des avantages en termes de coûts par rapport à leur ligne de crédit revolving existante.
Agree Realty (NYSE: ADC) hat die Einrichtung eines 625 Millionen Dollar umfassenden Commercial-Paper-Programms über ihre Tochtergesellschaft Agree Partnership bekannt gegeben. Das Programm ermöglicht die Emission von kurzfristigen, unbesicherten Commercial-Paper-Noten auf dem US-Markt.
Die Noten werden gleichrangig mit den anderen unbesicherten vorrangigen Schulden des Emittenten sein und werden vollständig von der Gesellschaft und bestimmten Tochtergesellschaften garantiert. Die Erlöse werden allgemeine Unternehmenszwecke unterstützen, wobei die 1,25 Milliarden Dollar umfassende revolvierende Kreditfazilität der Gesellschaft als Liquiditätsunterstützung dient.
Dieser strategische Schritt zielt darauf ab, die Bilanz der Gesellschaft zu diversifizieren und wird voraussichtlich Kostenvorteile im Vergleich zu ihrer bestehenden revolvierenden Kreditfazilität bieten.
- Establishment of $625M commercial paper program provides additional funding flexibility
- Expected cost savings compared to existing revolving credit facility
- Strong $1.25B revolving credit facility backing the program
- Enhanced balance sheet diversification
- Additional debt obligation could increase financial leverage
- Short-term nature of commercial paper may expose to interest rate risks
The commercial paper program further diversifies and strengthens the Company's balance sheet by providing another source of short-term capital. The Company expects to realize cost benefits in the commercial paper market versus its
The notes and guarantees to be offered under the commercial paper program have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in
About Agree Realty Corporation
Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2024, the Company owned and operated a portfolio of 2,370 properties, located in all 50 states and containing approximately 48.8 million square feet of gross leasable area. The Company's common stock is listed on the New York Stock Exchange under the symbol "ADC".
Forward-Looking Statements
This press release may contain forward-looking statements, including statements about the Company's intended use of proceeds, balance sheet strategy and potential cost benefits, 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. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "can," "will," "should," "potential," "intend," "expect," "seek," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," "forecast," "continue," "assume," "plan," "outlook" or other similar words or expressions. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information.
Although these forward-looking statements are based on good faith beliefs, reasonable assumptions and the Company's best judgment reflecting current information, you should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could materially affect the Company's results of operations, financial condition, cash flows, performance or future achievements or events. Currently, some of the most significant factors include the potential adverse effect of ongoing worldwide economic uncertainties. The extent to which these conditions will impact the Company and its tenants will depend on future developments, which are highly uncertain and cannot be predicted with confidence. Moreover, investors are cautioned to interpret many of the risks identified in the risk factors discussed in the Company's Annual Report on Form 10-K filed with the
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SOURCE AGREE REALTY CORPORATION
FAQ
What is the size of Agree Realty's new commercial paper program?
How will ADC use the proceeds from the commercial paper program?
What is the backup facility for ADC's commercial paper program?
Are the commercial paper notes being offered by ADC registered under the Securities Act?
