Broadstone Net Lease Announces $350 Million Senior Notes Offering Due 2032

Broadstone Net Lease has priced a $350m public offering of 5.000% senior unsecured notes due 2032, with the OP and BNL as guarantors. The net proceeds will be used to fund acquisitions, repay debt, and for general corporate purposes. J.P. Morgan Securities, Truist Securities, and U.S. Bancorp Investments are the joint lead book-running managers. The shelf registration statement became effective on May 3, 2024.

Broadstone Net Lease, Inc. (NYSE: BNL) has priced a $350 million public offering of 5.000% senior unsecured notes due in 2032. The notes, priced at 99.151% of their principal amount, will mature on November 1, 2032. The closing of the offering is expected on September 26, 2025, subject to customary closing conditions Broadstone Net Lease Announces Pricing of $350 Million in Senior Notes Due 2032^[1].

The notes will be senior unsecured obligations of Broadstone Net Lease, LLC, the company's operating partnership, and will be jointly and severally guaranteed by BNL. The net proceeds from the offering will be used to fund potential acquisition opportunities, repay amounts outstanding under BNL’s $1 billion revolving credit facility, term loans, and other indebtedness, as well as for other general corporate and working capital purposes Broadstone Net Lease Announces Pricing of $350 Million in Senior Notes Due 2032^[1].

The offering is being led by J.P. Morgan Securities LLC, Truist Securities, Inc., and U.S. Bancorp Investments, Inc., with BMO Capital Markets Corp., TD Securities (USA) LLC, Morgan Stanley & Co. LLC, M&T Securities, Inc., KeyBanc Capital Markets Inc., Capital One Securities, Inc., and Regions Securities LLC also acting as joint book-running managers Broadstone Net Lease Announces Pricing of $350 Million in Senior Notes Due 2032^[1].

A shelf registration statement, including a prospectus, was filed with the Securities and Exchange Commission (SEC) on May 3, 2024, and became effective upon filing. Investors are encouraged to read the prospectus and related documents available on the SEC’s website at www.sec.gov Broadstone Net Lease Announces Pricing of $350 Million in Senior Notes Due 2032^[1].

References

Broadstone Net Lease Announces Pricing of $350 Million in Senior Notes Due 2032^[1] https://www.marketscreener.com/news/broadstone-net-lease-announces-pricing-of-350-million-in-senior-notes-due-2032-ce7d58dddb8ff22d