Spirit Realty Capital, Inc (New)(NYSE:SRC) reported that Spirit Realty L.P. completed the issuance of around $674 million of notes comprised of $542.4 million aggregate principal sum of the “Class A Notes” and $132 million aggregate principal sum of the “Class B Notes” via its Spirit Master Funding securitization plan. The Class ‘A’ Notes has an interest rate of 4.36% while the Class ‘B’ Notes records an interest rate of 6.35%.
Spirit plans to utilize the proceeds from this notes sale for general corporate purposes, counting repayment of borrowings as per its unsecured term loan and revolving line of credit and for the payment of expenses and fees linked to the offering. The Class ‘A’ Notes and Class ‘B’ Notes are not listed under the Securities Act of 1933, as revised, and may not be sold or offered in the U.S. absent registration or a pertinent exemption from registration.
Earlier in December, Spirit Realty Capital reported that its Board of Directors has announced a quarterly cash payout of $0.18 a share, exhibiting an annualized rate of $0.72 a share of common stock. The record date is fixed as December 29, 2017.
The Board announced a quarterly cash payout of $0.36667 a share of 6% Series ‘A’ cumulative redeemable preferred equity. The payout is a pro rata distribution from and including the initial issue date, October 3, 2017, to December 31, 2017 (including this day). Shareholders as of record date December 19, 2017 will get the cash dividend of $0.36667 on December 29, 2017. Information related to Spirit’s dividends can be accessed via the investor relations page of the firm’s website.
In the last trading session, the stock price of Spirit Realty declined 0.43% to close the day at $8.07. The decline came at a share volume of 5.63 million compared to average share volume of 6.82 million.