Global Net Lease rises on $1.8 billion portfolio sale, $300 million buyback plan

Global Net Lease

26/02/2025 13:50

** Shares of real estate investor Global Net Lease GNL.N rise 6.2% to $7.75 premarket

** Co says it is selling its multi-tenant portfolio to subsidiary of RCG Ventures Holdings for about $1.8 bln

** GNL plans to use proceeds to lower balance on its Revolving Credit Facility, aiming for investment-grade credit rating

** Co says it is expecting to save $6.5 million annually in G&A expenses

** GNL's board also has approved $300 mln share repurchase program

** Co says it plans to sell almost $3 billion in properties by end of 2025

** Stock fell 26.6% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)

 ((Kamal.Choudhury@thomsonreuters.com;))