Global Net Lease Inc | 6.875% Series B Cumulative Redeemable Perpetual Preferred Stock (GNL.PRB)
Prospectus excerpt: We are offering 3,000,000 shares of our 6.875% Series B Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share (the ìSeries B Preferred Stockî). olders of Series B Preferred Stock will be entitled to cumulative dividends in the amount of??$1.71875 per share each year, which is equivalent to the rate of 6.875% of the $25.00 liquidation preference per share per annum. Dividends on the Series B Preferred Stock will be payable quarterly in arrears on the 15th day of each of January, April, July and October of each year (or, if not a business day, the next succeeding business day) to holders of record on the applicable record date. The first quarterly dividend for the Series B Preferred Stock sold in this offering will be paid on January 15, 2020 in an amount equal to $0.1671 per share, and will represent an accrual for less than a full quarter, covering the period from November 26, 2019 to December 31, 2019. The Series B Preferred Stock has no stated maturity and will remain outstanding indefinitely unless redeemed, converted or otherwise repurchased.
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Global Net Lease is an externally managed real estate investment trust. Co. focuses on acquiring and managing a globally portfolio of commercial real estate properties. Co. invests in commercial properties, with an emphasis on sale-leaseback transactions and mission-critical, single tenant net-lease assets. Substantially all of Co.'s business is conducted through its subsidiary, Global Net Lease Operating Partnership, L.P., and its wholly-owned subsidiaries. Preferreds: GNL.PRA, GNL.PRD, GNL.PRB, GNL.PRE Open the GNL Information Page » |
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