NexPoint Residential Trust, Inc. Completes Refinancing of Corporate Credit Facility

, /PRNewswire/ -- NexPoint Residential Trust, Inc. ("NXRT" or the "Company") (NYSE: NXRT) announced today that it, through its operating partnership (the "OP"), has closed on the refinancing of its existing corporate revolving credit facility with J.P. Morgan Chase Bank, Raymond James Bank, Royal Bank of Canada, and Synovus. The refinanced credit facility has an initial maturity of June 2028 that may be extended until June 2029. At the Company's election, any amounts borrowed under the credit facility will have an interest rate equal to term Secured Overnight Financing Rate plus 150 basis points (or up to 225 basis points, depending on the immediately preceding quarterly total leverage ratio). The new credit facility spread has been improved by 15 bps across all leverage ratios compared to the prior corporate credit facility. Subject to conditions provided in the credit facility, the credit facility may be increased by up to an additional $200 million if the lenders agree to increase their commitments. The credit facility is secured by the equity interests of each subsidiary of the OP which owns an interest in a mortgaged property and the proceeds of all equity offerings and other capital events with respect to any loan party or subsidiary and may be used for tax-efficient acquisition strategies, working capital expenditures, and other general corporate purposes. No indebtedness was outstanding on the existing facility. "Our new credit agreement provides us with the flexibility to take advantage of new opportunities to drive growth and performance in improving fundamental and investment markets. We appreciate the strong support from all the bank teams involved in implementing this agreement and their confidence in our business and performance," said Matt McGraner, Chief Investment Officer. About NXRT NexPoint Residential Trust is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol "NXRT," primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with "value-add" potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States. NXRT is externally advised by NexPoint Real Estate Advisors, L.P., an affiliate of NexPoint Advisors, L.P., an SEC-registered investment advisor, which has extensive real estate experience. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management's current expectations, assumptions and beliefs. Forward-looking statements can often be identified by words such as "believe," "continue," "expect," "will," "plan," "may" and similar expressions, and variations or negatives of these words, including related to the expected use of the credit facility and that the credit facility provides the Company with the flexibility to take advantage of new opportunities. Readers should not place undue reliance on any forward-looking statements and are encouraged to review the Company's most recent Annual Report on Form 10-K and other filings with the SEC for a more complete discussion of the risks and other factors that could affect any forward-looking statements. The statements made herein speak only as of the date of this release and except as required by law, NXRT does not undertake any obligation to publicly update or revise any forward-looking statements. Contact: Kristen GriffithInvestor Relations[email protected] SOURCE NexPoint Residential Trust, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

NexPoint Residential Trust, Inc. Completes Refinancing of Corporate Credit Facility

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