American Finance Trust, Inc.
Overview
| Deal Type |
Debt Capital Markets |
|---|---|
| Size |
$500 Million Senior Notes |
| Client & Transactional Partners |
American Finance Trust, Inc. |
| Our Role |
Left Bookrunner |
Summary
On September 30, 2021, KeyBanc Capital Markets (“KBCM”) acted as Left Lead Bookrunner on American Finance Trust, Inc.’s (“AFIN” or the “Company”) inaugural $500 Million Senior Notes (the “Notes”) offering. The Notes, which priced at par for a coupon of 4.50%, will be used to fully repay borrowings under the Revolving Credit Facility, repay certain Mortgage Notes, to fund future property acquisitions and for other general corporate purposes. Leading up to the deal’s launch, KBCM lead the rating agency process and subsequently conducted several non-deal roadshow meetings to gauge interest in the transaction. KBCM was mandated as Left Lead Bookrunner on AFIN’s inaugural transaction due to its industry expertise, consistent pitching efforts, its strong relationships with high yield accounts, and past performance on high yield offerings.
American Finance Trust is an externally managed, Nasdaq-listed REIT that focuses on acquiring and managing a diversified portfolio of primarily service-oriented, traditional retail and distribution-related commercial real estate properties located primarily in the United States. As of June 30, 2021, AFIN owned 939 properties consisting of 19.9 Million rentable square feet, which were 94.9% leased, with a weighted-average remaining lease term of 8.5 years. The Company is externally managed by AR Global, a leading full-service asset management platform that acquires, owns and operates properties in the United States and Western Europe.
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