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Agree Realty Announces $625 Million Commercial Paper Program
ADCAgree Realty(ADC) Prnewswire·2025-03-31 20:05

Core Viewpoint - Agree Realty Corporation has launched its inaugural commercial paper program, allowing the issuance of up to 625millioninshort−term,unsecuredcommercialpapernotestoenhanceitscapitalstructureandprovideliquidityforgeneralcorporatepurposes[1][2].CompanyOverview−AgreeRealtyCorporationisapubliclytradedrealestateinvestmenttrust(REIT)focusedonacquiringanddevelopingpropertiesleasedtoleadingomni−channelretailtenants.AsofDecember31,2024,thecompanyowned2,370propertiesacrossall50states,totalingapproximately48.8millionsquarefeetofgrossleasablearea[4].FinancialStrategy−Thecommercialpaperprogramisexpectedtodiversifyandstrengthenthecompany′sbalancesheetbyprovidinganadditionalsourceofshort−termcapital.Thecompanyanticipatescostbenefitsfromthecommercialpapermarketcomparedtoitsexisting625 million in short-term, unsecured commercial paper notes to enhance its capital structure and provide liquidity for general corporate purposes [1][2]. Company Overview - Agree Realty Corporation is a publicly traded real estate investment trust (REIT) focused on acquiring and developing properties leased to leading omni-channel retail tenants. As of December 31, 2024, the company owned 2,370 properties across all 50 states, totaling approximately 48.8 million square feet of gross leasable area [4]. Financial Strategy - The commercial paper program is expected to diversify and strengthen the company's balance sheet by providing an additional source of short-term capital. The company anticipates cost benefits from the commercial paper market compared to its existing 1.25 billion revolving credit facility, which will serve as a liquidity backstop for the repayment of the notes issued [2].