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Stock impact report

Agree Realty Announces $625 Million Commercial Paper Program [Yahoo! Finance]

Agree Realty Corporation (ADC) 
Last agree realty corporation earnings: 4/20 06:15 am Check Earnings Report
US:NYSE Investor Relations: agreerealty.com/invest
Company Research Source: Yahoo! Finance
The program allows the Company, through its subsidiary, Agree Limited Partnership (the "Issuer"), to issue up to $625 million of short-term, unsecured commercial paper notes. The notes will be sold under customary terms in the United States commercial paper note market and will rank pari passu with all the Issuer's other senior unsecured indebtedness. The notes will be fully and unconditionally guaranteed by the Company and certain of its subsidiaries. Note proceeds will be used for general corporate purposes. The commercial paper program further diversifies and strengthens the Company's balance sheet by providing another source of short-term capital. The Company expects to realize cost benefits in the commercial paper market versus its $1.25 billion revolving credit facility, and it expects to use its revolving credit facility as a liquidity backstop for the repayment of the notes issued under the commercial paper program. The notes and guarantees to be offered under the commerci Show less Read more
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