Global Net Lease, Inc. Announces Proposed Offering of $500 Million of Senior Notes

Rhea-AI Summary

Global Net Lease, Inc. (GNL) announced plans to offer $500 million of seven-year senior unsecured notes, subject to market conditions. The proceeds will primarily be used to repay amounts borrowed under its revolving credit facility and to partially repay a term loan. The notes will not be registered under the Securities Act and may be sold only to qualified institutional buyers or in offshore transactions. GNL focuses on acquiring a diversified portfolio of commercial properties, emphasizing mission-critical net-leased assets in the U.S. and Europe.

Positive

• Planned offering of $500 million in senior unsecured notes to improve financial flexibility.
• Proceeds aimed at repaying existing debt, potentially reducing interest expenses.

Negative

• Notes not registered under the Securities Act, limiting investor access.
• Dependence on market conditions for successful offering may introduce uncertainty.

NEW YORK, Dec. 7, 2020 /PRNewswire/ -- Global Net Lease, Inc. ("GNL" or the "Company") (NYSE: GNL) today announced that the Company and Global Net Lease Operating Partnership, L.P., the Company's operating partnership subsidiary (the "Operating Partnership" and, together with the Company, the "issuers"), plan to offer, subject to market and other conditions, $500 million aggregate principal amount of seven-year senior unsecured notes. The notes will be guaranteed on a senior unsecured basis by each of the Company's subsidiaries that are guarantors under the Operating Partnership's senior unsecured multi-currency revolving credit facility ("revolving credit facility") and senior unsecured term loan facility ("term loan" and, together with the revolving credit facility, the "credit facility") or any future subsidiary of the issuers that becomes a borrower or guarantor under the credit facility, any other syndicated loan facility or any capital markets indebtedness of the issuers or a subsidiary guarantor under the notes, subject to certain exceptions.

The issuers intend to use proceeds of the proposed offering to repay amounts borrowed under the revolving credit facility and use the remaining proceeds to partially repay the term loan.

The notes and related guarantees have not been, and will not be, registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction. The notes may not be offered or sold within the United States or to U.S. persons, except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A and to certain persons in offshore transactions in reliance on Regulation S.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of any securities, in any jurisdiction in which such offer, solicitation or sale is unlawful.

About Global Net Lease, Inc.

Global Net Lease, Inc. (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe. Additional information about the Company can be found on its website at www.globalnetlease.com.

Important Notice

The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results or events to be materially different. The words "anticipates," "believes," "expects," "estimates," "projects," "plans," "intends," "may," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We caution you that any forward-looking statements included in this press release are based on the Company's current views and information currently available to us. Forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company's control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties are described in more detail in the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended December 31, 2019 filed on February 28, 2020, the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020 and all other filings with the Securities and Exchange Commission after that date, as such risks, uncertainties and other important factors may be updated from time to time in the Company's subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results, unless required to do so by law.

Contacts:

Investors and Media:
Email: investorrelations@globalnetlease.com
Phone: (212) 415-6510

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SOURCE Global Net Lease, Inc.

FAQ

What is Global Net Lease planning to offer on December 7, 2020?

Global Net Lease plans to offer $500 million of seven-year senior unsecured notes.

How will Global Net Lease use the proceeds from the note offering?

The proceeds will be used to repay amounts borrowed under their revolving credit facility and partially repay a term loan.

What are the risks associated with the senior note offering by GNL?

The notes are not registered under the Securities Act, limiting investor access and introducing market condition risks.

What types of assets does Global Net Lease focus on?

Global Net Lease focuses on single tenant, mission-critical net-leased assets in the U.S. and Europe.

What is the ticker symbol for Global Net Lease?

The ticker symbol for Global Net Lease is GNL.