SCOTTSDALE, Ariz.--(BUSINESS WIRE)--
STORE
Capital Corporation (NYSE: STOR), an internally managed net-lease
real estate investment trust (REIT) that invests in Single Tenant
Operational Real Estate, announced today that it
has issued $365 million of 7- and 10-year fixed-rate notes designated as
STORE Master Funding Net Lease Mortgage Notes, Series 2015-1. This is
the sixth note issuance under STORE’s Master Funding debt program, its
proprietary investment vehicle.
The notes were issued in two classes – $95 million of 7-year Class A-1
notes at an interest rate of 3.75% and $270 million of 10-year Class A-2
notes at an interest rate of 4.17%. Both classes of notes were rated A+
by Standard & Poor’s Ratings Services. The notes were issued in a
private placement to qualified institutional buyers.
“Our sixth STORE Master Funding note issuance locks in attractive
long-term fixed-rate financing that helps us maintain a flexible capital
structure and expands our laddered debt maturities,” said Christopher H.
Volk, President and CEO. “STORE’s Master Funding debt program now has a
highly diversified collateral pool of more than $2.0 billion of
profit-center assets and is the foundation of a flexible liability
structure that we designed to benefit our stockholders and customers.”
The notes are not registered under the Securities Act of 1933, as
amended (the “Securities Act”), and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements. The notes may only be offered and sold in the
United States in accordance with Rule 144A under the Securities Act.
This press release does not constitute an offer to sell or the
solicitation of any offer to buy nor shall there be any sale of the
notes in any jurisdiction in which such offer, solicitation or sale
would be unlawful under the laws of such jurisdiction.
About STORE Capital
STORE Capital Corporation is an internally managed net-lease real estate
investment trust, or REIT, that is a leader in the acquisition,
investment and management of Single Tenant Operational Real Estate,
which is its target market and the inspiration for its name. STORE
Capital is one of the largest and fastest growing net-lease REITs and
owns a large, well-diversified portfolio that consists of investments in
over 1,000 property locations, substantially all of which are profit
centers, in 46 states. Additional information about STORE Capital can be
found on its website at www.storecapital.com.
Forward-Looking Statements
Certain statements contained in this press release that are not
historical facts may contain forward-looking statements. Forward-looking
statements can be identified by the use of words such as "estimate,"
"anticipate," "expect," "believe," "intend," "may," "will," "should,"
"seek," "approximate" or "plan," or the negative of these words and
phrases or similar words or phrases. Forward-looking statements, by
their nature, involve estimates, projections, goals, forecasts and
assumptions and are subject to risks and uncertainties that could cause
actual results or outcomes to differ materially from those expressed in
the forward-looking statements. For more information on risk factors for
STORE Capital’s business, please refer to the periodic reports and
prospectuses it files with the Securities and Exchange Commission from
time to time. These forward-looking statements speak only as of the date
of this press release and should not be relied upon as predictions of
future events. STORE Capital expressly disclaims any obligation or
undertaking to update or revise any forward-looking statements contained
herein, to reflect any change in STORE Capital’s expectations with
regard thereto, or any other change in events, conditions or
circumstances on which any such statement is based, except as required
by law.
Financial Profiles
Kristen Papke, (310) 622-8225
Moira Conlon,
(310) 622-8220
STORECapital@finprofiles.com
Source: STORE Capital Corporation