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NETSTREIT Corp. (NYSE: NTST) (the "Company") announced the closing of $450.0 million in additional financing commitments and amendments to its existing credit facilities agented by PNC Bank, National Association (the "PNC Credit Agreement"), Wells Fargo Bank, National Association (the "Wells Fargo Credit Agreement") and Truist Bank (the "Truist Credit Agreement").
The new Term Loan Credit Agreement, agented by PNC Bank, National Association (the "PNC Term Loan Agreement"), provides for $450.0 million in additional term loan commitments, consisting of a $200.0 million senior unsecured, 5.5-year term loan facility (the "2031 Term Loan"), all of which was funded on the closing date, and a $250.0 million senior unsecured, 7-year term loan facility (the "2032 Term Loan"), of which $100.0 million was funded on the closing date. The remaining $150.0 million will be available as a delayed draw term loan commitment until September 25, 2026.
The Company has fully hedged the 2031 Term Loan with an all-in interest rate, as of October 1, 2025, of 4.59% per annum. The Company has partially hedged $200.0 million of the 2032 Term Loan at an all-in interest rate, as of October 1, 2025, of 4.92% per annum. Interest is payable monthly or at the end of the applicable interest period in arrears on any outstanding borrowings. The remaining $50.0 million of the 2032 Term Loan is currently unhedged.
Posted In: NTST
