Broadstone Net Lease prices $350 million senior notes offering

VICTOR, N.Y. - Broadstone Net Lease, Inc. (NYSE:BNL), a REIT with a market capitalization of $3.62 billion, announced Tuesday that its operating partnership has priced a public offering of $350 million in senior unsecured notes with a 5.000% interest rate due in 2032.

The notes were priced at 99.151% of the principal amount and will mature on November 1, 2032. The transaction is expected to close on September 26, according to a company press release.

The notes will be senior unsecured obligations of Broadstone Net Lease, LLC and will be jointly and severally guaranteed by Broadstone Net Lease, Inc.

The company plans to use the proceeds to fund potential acquisitions, repay amounts outstanding under its $1 billion revolving credit facility and term loans, and for general corporate purposes.

J.P. Morgan Securities LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc. are serving as joint lead book-running managers for the offering.

Broadstone Net Lease is an industrial-focused, diversified net lease REIT that invests primarily in single-tenant commercial real estate properties, maintaining impressive gross profit margins of 94.5% and offering a substantial dividend yield of 6.35%. As of June 30, 2025, the company’s portfolio consisted of 766 net leased commercial properties, with 759 located across 44 U.S. states and seven in four Canadian provinces. For detailed analysis and additional insights, including 8 key ProTips, check out the comprehensive research report available on InvestingPro.

The offering is being made through a shelf registration statement filed with the Securities and Exchange Commission on May 3, 2024.

In other recent news, Broadstone Net Lease reported its Q2 2025 earnings, revealing a mixed financial performance. The company posted an earnings per share (EPS) of $0.10, which fell short of the forecasted $0.18, representing a 44.44% negative surprise. However, revenue figures surpassed expectations, coming in at $112.99 million compared to the anticipated $110.75 million, a 2.02% positive surprise. In addition to its earnings report, Broadstone Net Lease has received attention from analysts. Goldman Sachs upgraded the company’s stock rating from Sell to Buy, citing confidence in management and visible earnings growth from its development pipeline. The investment bank also raised its price target to $21.00. Similarly, KeyBanc upgraded Broadstone’s stock rating to Overweight, highlighting the company’s strategic portfolio repositioning, which involved $366 million in dispositions over the past 18 months. These recent developments reflect a period of strategic adjustment and analyst optimism for Broadstone Net Lease.

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