BLOOMFIELD HILLS, Mich., Sept. 27, 2018 /PRNewswire/ — Agree Realty Corporation (ADC) (the “Company”) today appear that it has completed a clandestine adjustment of $125 actor of chief apart addendum (the “Senior Notes”) to a accumulation of institutional investors. The Chief Addendum accept a 12-year term, crumbling on September 26, 2030, priced at a anchored absorption amount of 4.32%.
With the issuance, the Company’s weighted-average debt ability is about 8.1 years, excluding the Company’s apart revolving acclaim facility. Net gain from the Chief Addendum will be acclimated to abate amounts outstanding beneath the Company’s apart revolving acclaim ability and for accepted accumulated purposes.
“We are absolute beholden of the connected abutment of our clandestine adjustment investors,” said Clay Thelen, Chief Banking Officer of Agree Realty Corporation. “With this transaction, we accept anchored about $475 actor of abiding apart debt or accepted disinterestedness this year to abutment our able-bodied activity of net charter advance opportunities.”
About Agree Realty Corporation
Agree Realty Corporation is a about traded absolute acreage advance assurance primarily affianced in the accretion and development of backdrop net busy to industry-leading retail tenants. The Company currently owns and operates a portfolio of 508 properties, amid in 45 states and absolute about 9.8 actor aboveboard anxiety of gross leasable space. The accepted b of Agree Realty Corporation is listed on the New York B Exchange beneath the attribute “ADC”. For added information, amuse appointment www.agreerealty.com.
This columnist absolution contains assertive “forward-looking” statements apropos to, amid added things, abeyant incurrence of indebtedness, our expectations apropos approaching costs and the abeyant use of gain from the clandestine placement. Advanced statements are about identifiable by use of advanced ogue such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” “forecast,” “continue,” “plan” or added agnate words or expressions. Advanced statements are based on assertive assumptions and can accommodate approaching expectations, approaching affairs and strategies, banking and operating projections or added advanced information. These advanced statements are accountable to assorted risks and uncertainties, abounding of which are above the Company’s control, which could account absolute after-effects to alter materially from such statements. These risks and uncertainties accommodate but are not bound to factors declared in greater detail in the Company’s filings with the Securities and Exchange Commission (“SEC”), including, after limitation, the Company’s Annual Report on Form 10-K for the year concluded December 31, 2017. Unless accurately required, the Company disclaims any obligation to amend any advanced statements, whether as a aftereffect of new information, approaching contest or otherwise.
For added advice about the Company’s business and banking results, amuse accredit to the “Management’s Discussion and Analysis of Banking Condition and After-effects of Operations” and “Risk Factors” sections of the Company’s SEC filings, including, but not bound to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, copies of which may be acquired at the Investor Relations area of the Company’s website at www.agreerealty.com.
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