Spirit Realty Capital (SRC) has released an update to notify the public and investors about an entry into a material definitive agreement.
Spirit Realty, L.P., a subsidiary of Realty Income, and Realty Income completed debt exchange offers on January 23, 2024, exchanging various Spirit Notes due between 2026 and 2032 for new notes issued by Realty Income. Notable amounts of the Spirit Notes were tendered and cancelled, leaving $52,940,000 of Spirit Notes outstanding. Additionally, Spirit OP entered into the eighth supplemental indenture, amending the existing indenture to remove most restrictive covenants and ensuring Merger Sub assumes payment responsibilities for the remaining Spirit Notes.
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