1. NETSTREIT closes $450 million in new financing commitments. 2. Includes a $200 million senior unsecured term loan for 5.5 years. 3. 2031 Loan fully hedged at 4.59% interest; 2032 Loan partially hedged. 4. Existing credit agreements were amended; SOFR adjustment removed. 5. NETSTREIT specializes in single-tenant net lease retail properties nationwide.
The new financing increases liquidity and financial flexibility. Companies often see stock appreciation following successful financing rounds.
The announcement relates directly to NTST's financial health, influencing investor perception positively.
The new commitments will support future growth and stability, impacting long-term investor confidence.
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.
Each of the PNC Credit Agreement, Wells Fargo Credit Agreement and Truist Credit Agreement were amended to, among other changes necessary to conform to the PNC Term Loan Agreement, remove the SOFR credit spread adjustment.
PNC Capital Markets LLC; The Huntington National Bank; Truist Securities, Inc.; Capital One, National Association; and Regions Capital Markets, acted as Joint Lead Arrangers for the 2031 Term Loan. PNC Capital Markets LLC; The Huntington National Bank; Truist Securities, Inc.; Capital One, National Association; Regions Capital Markets; TD Bank, N.A.; and U.S. Bank National Association, acted as Joint Lead Arrangers for the 2032 Term Loan.
The Huntington National Bank; Truist Bank; Capital One, National Association; and Regions Bank, acted as Syndication Agents for the 2031 Term Loan. The Huntington National Bank; Truist Bank; Capital One, National Association; Regions Bank; TD Bank, N.A.; and U.S. Bank National Association, acted as Syndication Agents for the 2032 Term Loan.
PNC Capital Markets LLC acted as the sole Bookrunner.
Cooley LLP acted as counsel to the Company and Alston & Bird LLP acted as counsel to the Administrative Agents.
About NETSTREIT Corp.
NETSTREIT is an internally managed real estate investment trust (REIT) based in Dallas, Texas that specializes in acquiring single-tenant net lease retail properties nationwide. The growing portfolio consists of high-quality properties leased to e-commerce resistant tenants with healthy balance sheets. Led by a management team of seasoned commercial real estate executives, NETSTREIT's strategy is to create the highest quality net lease retail portfolio in the country with the goal of generating consistent cash flows and dividends for its investors.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250926390754/en/
Investor Relations
ir@netstreit.com
972-597-4825