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Last $11.80 USD
Change Today -0.02 / -0.17%
Volume 5.9M
SRC On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

spirit realty capital inc (SRC) Key Developments

Spirit Realty Capital, Inc. Presents at Morgan Stanley Triple Net REIT Summit, Apr-17-2015

Spirit Realty Capital, Inc. Presents at Morgan Stanley Triple Net REIT Summit, Apr-17-2015 . Venue: Morgan Stanley Headquarters, New York, United States. Speakers: Thomas H. Nolan, Chairman and Chief Executive Officer.

Spirit Realty Capital Seeks Acquisitions

Spirit Realty Capital, Inc. (NYSE:SRC) has completed a Follow-on Equity Offering in the amount of $237.00 million, Spirit Realty will use the proceeds to repay the outstanding balance under Spirit's revolving credit facility, to fund potential future acquisitions and for general corporate purposes.

SRC Seeks Acquisitions

Spirit Realty Capital, Inc. (NYSE:SRC) is looking for acquisition opportunities. SRC announced that it has commenced an underwritten public offering of 20 million shares of its common stock pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. SRC intends to use the net proceeds from the offering to repay the outstanding balance under its revolving credit facility, to fund potential future acquisitions and for general corporate purposes.

Spirit Realty Capital, Inc. Closes $600 Million Unsecured Credit Facility

Spirit Realty Capital, Inc. announced that it has closed a $600 million unsecured credit facility, which initially bears interest at LIBOR plus 170 basis points. The new facility replaces Spirit's previous $400 million facility, which most recently bore interest at LIBOR plus 250 basis points, and improves the borrowing terms as well as the interest rate. The facility matures on March 31, 2019, with an option to extend the maturity to March 31, 2020, subject to certain requirements. The new agreement also includes an accordion feature to increase the facility size to up to $1.0 billion and provides enhanced terms if Spirit achieves an investment grade rating of BBB- or higher from Standard & Poor's Rating Services or Baa3 from Moody's Investor Services, Inc. The credit facility was syndicated to a group of 12 banks led by Wells Fargo Securities, LLC and Deutsche Bank Securities, Inc., who were the Joint Lead Arrangers. Deutsche Bank AG New York Branch was the Syndication Agent, and Bank of America, N.A., JP Morgan Chase Bank, N.A., Royal Bank of Canada and SunTrust Bank were Documentation Agents. Other bank participants include Barclays Bank, PLC, Capital One Bank N.A., Morgan Stanley Bank, N.A., Regions Bank, Citizens Bank, N.A. and Raymond James Bank, N.A. Wells Fargo Bank, National Association will be the administrative agent.

Spirit Realty Capital, Inc. Announces Management Changes

Spirit Realty Capital, Inc. announced that it has reorganized and expanded its executive leadership team to better facilitate execution on its stated operating plan. Spirit has appointed Phillip D. Joseph, Jr. as Chief Financial Officer and has named Spirit's current Chief Financial Officer, Michael A. Bender, to the newly formed position of Chief Accounting Officer. These appointments become effective April 20, 2015. In his new capacity, Mr. Joseph will oversee all aspects of Finance, Corporate Reporting, Tax and Investor Relations, and will focus, in particular, on Spirit's capital markets and key stakeholder engagement activities. Mr. Joseph has over twenty years of real estate experience and has demonstrated expertise in developing, leading and executing capital markets and financial planning and analysis activities, which include extensive experience in capital structure positioning with rating agencies.

 

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