Global Net Lease Announces Operating Results for Second Quarter 2016

Capital Structure and Liquidity Resources

At June 30, 2016, the Company had $40.5 million of cash and cash equivalents and $66.3 million available under its revolving credit facility based on foreign exchange rates as of June 30, 2016. The Company's net debt to enterprise value was 46% with enterprise value of $2.5 billion based on the June 30, 2016 closing share price of $7.95, and total combined net debt of $1.1 billion at quarter-end, including $513.3 million of outstanding mortgage debt.

The Company continues to focus on enhancing the balance sheet. Due to movement in foreign exchange rates, the Company's annualized Net Debt/Adjusted EBITDA moved favorably to 6.7x in the second quarter from 7.0x in the first quarter.

As of June 30, 2016, the Company's total combined debt had a weighted average interest rate cost of 2.6%, consisting of 63.7% fixed rate¹ and 36.3% floating rate debt, resulting in an interest coverage ratio of 5.2 times.

On July 25, 2016, the Company formally exercised the first of its two one year extensions on its existing $740 million credit facility.

In June, and prior to the Brexit referendum vote, the Company added additional foreign exchange hedging instruments through end-of-year 2019 as part of the Company's strategy to hedge earnings and manage risk.

"In keeping with our strategy to minimize risk and manage cash flows, management put in place additional hedging instruments prior to the June 23^rd Brexit referendum vote," said Tim Salvemini, Chief Financial Officer of GNL. "We initiated new contracts as part of our overall hedging strategy, extending our hedges out to the end of 2019. Due to our in-place hedges, we saw a minimal effect on our net cash flows for the quarter."

"We formally extended our credit facility in July, utilizing the first of two available one-year extensions, which give us flexibility as we look at options to fortify our balance sheet and diversify our capital stack," continued Mr. Salvemini.

"Our balance sheet and liquidity position remain strong. As of June 30, the Company's debt to enterprise value was 46%, annualized net debt to adjusted EBITDA was down from 7.0 to 6.7 times, our interest coverage ratio was 5.2 times, with approximately $40.5 million in cash and $66.3 million available under our corporate credit facility," said Mr. Salvemini.

Conference Call

GNL will host a conference call on August 8, 2016 at 11:00 a.m. ET to discuss financial and operating results for the second quarter 2016.

Dial-in instructions for the conference call and the replay are outlined below. This conference call will also be broadcast live over the Internet and can be accessed by all interested parties through the GNL website, www.globalnetlease.com, in the "Investor Relations" section.

To listen to the live call, please go to GNL's "Investor Relations" section of the website at least 15 minutes prior to the start of the call to register and download any necessary audio software. For those who are not able to listen to the live broadcast, a replay will be available shortly after the call on the GNL website at www.globalnetlease.com.

Conference Call Details

Live Call

Dial-In (Toll Free): 1-888-317-6003

International Dial In (Toll Free): 1-412-317-6061

Canada Dial In (Toll Free): 1-866-284-3684

Participant Elite Entry Number: 2056873

Conference Replay*

Domestic Dial In (Toll Free): 1-877-344-7529

International Dial In (Toll Free): 1-412-317-0088

Canada Dial In (Toll Free): 1-855-669-9658

Conference Number: 10091077

*Available one hour after the end of the conference call through November 8, 2016.

(Participants will be required to state their name and company upon entering call.)

Supplemental Schedules

The Company will file supplemental information packages with the Securities and Exchange Commission (the "SEC") to provide additional disclosure and financial information. Once posted, the supplemental package can be found under the "Presentations" tab in the Investor Relations section of GNL's website at www.globalnetlease.com and on the SEC website at www.sec.gov.

About Global Net Lease, Inc.

Global Net Lease, Inc. (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE focused on acquiring and managing a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical, income producing, net-leased assets across the United States, Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com.

Important Notice

The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results or events to be materially different. Forward-looking statements may include, but are not limited to, statements regarding stockholder liquidity and investment value and returns. The words "anticipates," "believes," "expects," "estimates," "projects," "plans," "intends," "may," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those contemplated by such forward-looking statements, including those set forth in the Risk Factors section of GNL's most recent annual report on Form 10-K filed for the year ended December 31, 2015 with the SEC on February 29, 2016, and quarterly report on Form 10-Q for the quarter ended March 31, 2016, filed on May 6, 2016, and in future filings with the SEC. Further, forward-looking statements speak only as of the date they are made, and GNL undertakes no obligation to update or reverse any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events on changes to future operating results, unless required to do so by law.

The discussion regarding 2016 AFFO per share guidance includes estimated projections of future operating results. These projections were not prepared in accordance with published guidelines of the SEC or the guidelines established by the American Institute of Certified Public Accountants for preparation and presentation of financial projections. This information is not fact and should not be relied upon as being necessarily indicative of future results; the projections were prepared in good faith by management and are based on numerous assumptions that may prove to be wrong. Important factors that may affect actual results and cause the projections to not be achieved include, but are not limited to, risks and uncertainties relating to the company and other factors described under "Risk Factors" section of the Company's Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and "Forward-Looking Statements." The projections also reflect assumptions as to certain business decisions that are subject to change. As a result, actual results may differ materially from those contained in the estimates. Accordingly, there can be no assurance that the estimates will be realized.

Global Net Lease, Inc.
Consolidated Balance Sheets (Unaudited)
(in thousands, except share and per share data)
			June 30, 2016		December 31, 2015
Assets
Real estate investments, at cost:
	Land		$                  337,863		$                  341,911
	Buildings, fixtures and improvements		1,665,084		1,685,919
	Construction in progress		-		180
	Acquired intangible lease assets		510,407		518,294
	Total real estate investments, at cost		2,513,354		2,546,304
	Less accumulated depreciation and amortization		(179,106)		(133,329)
Total real estate investments, net			2,334,248		2,412,975
Cash and cash equivalents			40,501		69,938
Restricted cash			3,334		3,319
Derivatives, at fair value			6,559		5,812
Unbilled straight line rent			27,563		23,048
Prepaid expenses and other assets			17,944		15,345
Due from related parties			16		136
Deferred tax assets			2,561		2,552
Goodwill and other intangible assets, net			3,042		2,988
Credit facility deferred financing costs, net			538		4,409
Total Assets			$               2,436,306 Werbung Mehr Nachrichten zur Global Net Lease Inc. A Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 24.04.24 - PR Newswire BlackRock Income and Growth Investment Trust Plc - Transaction in Own Shares 24.04.24 - PR Newswire Fidelity Emerging Markets Ltd - Monthly Factsheet 24.04.24 - PR Newswire Boeing Company - First Quarter Financial Results Solarboom 2024:    5 Gründe die für diese Aktie sprechen… weiterlesen» Anzeige wo-site-teaser-box-16746_site-teaser-box_2024-04-24_08%253A00%253A00_2024-04-25_09%253A00%253A59