American Realty Capital Prices $300 Mln Convertible Senior Notes Offering

(RTTNews) - American Realty Capital Properties, Inc. (ARCP) said Tuesday that it has priced its underwritten public offering of $300.0 million Convertible Senior Notes due 2018.

Additionally, the company granted the underwriters a 30-day option to purchase up to an additional $30.0 million of additional Notes, solely to cover over-allotments, if any.

The settlement of the notes offering is expected to occur on or about July 29. The company plans to use the net proceeds of the offering to repay outstanding indebtedness under its existing senior secured credit facility and for other general corporate purposes which includes investing in properties in accordance with its investment objectives.

The settlement of the Notes offering is expected to occur on or about July 29, 2013, subject to satisfaction of customary market and other closing conditions.