NETSTREIT Corp. (NYSE: NTST) (“NTST” or the “Company”), announced today the closing of an inaugural $600 million sustainability-linked senior unsecured credit facility (the “Credit Facility”), consisting of a $400 million senior unsecured revolving credit facility (the “Revolver”) and a new $200 million senior unsecured term loan (the “Term Loan”), with an additional $400 million accordion feature. The Revolver refinanced and upsized NTST’s existing $250 million senior unsecured revolving credit facility, which was set to mature in December 2023. The Revolver will mature in August 2026 (4 year term), with the option available to extend the maturity for an additional year, while the Term Loan will mature in February 2028 (5.5 year term). The Term Loan will be fully drawn at close and hedged through its term with an all-in rate of 3.88%. The Company’s existing $175 million senior unsecured term loan that is fully hedged at an all-in rate of 1.36% will remain outstanding through maturity in December 2024.
NETSTREIT Corp. Announces $600 Million Sustainability-Linked Credit Facility
Aug 11, 2022
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