NETSTREIT Corp. (NYSE: NTST) (the “Company”) announced the closing of $550.0 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 amendment to the Term Loan Agreement, agented by PNC Bank, National Association (as amended, the “PNC Term Loan Agreement”), provides for $550.0 million in additional term loan commitments, consisting of (i) a $100.0 million increase (the “2031 Incremental Term Loan”) under the Company’s existing senior unsecured, 5.5-year term loan facility, all of which was funded on the closing date, (ii) a $50.0 million increase (the “2032 Incremental Term Loan”) under the Company’s existing senior unsecured, 7-year term loan facility, all of which was funded on the closing date, and (iii) a new $400.0 million senior unsecured, 7-year delayed draw term loan facility (the “2033 Term Loan”), which was undrawn as of closing and may be drawn until September 28, 2027.
The Company used borrowings under the 2031 Incremental Term Loan and the 2032 Incremental Term Loan, as well as the remaining $50.0 million draw under the 2032 term loan, to repay in full the Company’s $200.0 million term loan that was scheduled to mature in February 2028. The interest rate swaps previously associated with the repaid term loan remain in place and continue to fix the interest rate on an equivalent amount of the Company’s borrowings through February 2028.
The Company also amended the PNC Term Loan Agreement, the PNC Credit Agreement, the Wells Fargo Credit Agreement and the Truist Credit Agreement to make certain other changes, including, in some cases, to reduce the applicable margin spread.
“We are pleased with the closing of our $550.0 million in additional term loan commitments and the full repayment of our 2028 term loan. With these transactions, we have meaningfully extended our weighted average debt maturity profile and have no material debt maturing until early 2029. This additional financing also largely addresses our debt capital needs through 2027 and greatly enhances our liquidity position heading into next year. We sincerely appreciate the continued commitment and support of our trusted banking partners,” said Dan Donlan, Chief Financial Officer of NETSTREIT.
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 Incremental 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 Incremental Term Loan. PNC Capital Markets LLC; The Huntington National Bank; Capital One, National Association; Regions Capital Markets; TD Bank, N.A.; Manufacturers and Traders Trust Company; Truist Securities, Inc.; and U.S. Bank National Association, acted as Joint Lead Arrangers for the 2033 Term Loan.
The Huntington National Bank; Truist Bank; Capital One, National Association; and Regions Bank, acted as Syndication Agents for the 2031 Incremental 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 Incremental Term Loan. The Huntington National Bank; Capital One, National Association; Regions Bank; TD Bank, N.A.; and Manufacturers and Traders Trust Company, acted as Syndication Agents for the 2033 Term Loan.
PNC Capital Markets LLC acted as the sole Bookrunner for the 2031 Incremental Term Loan and the 2032 Incremental Term Loan. PNC Capital Markets LLC; The Huntington National Bank; Capital One, National Association; Regions Capital Markets; TD Bank, N.A.; and Manufacturers and Traders Trust Company, acted as Joint Bookrunners for the 2033 Term Loan.
Morrison & Foerster 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.
Forward-Looking Statements
This press release contains forward-looking statements. Such forward-looking statements include, without limitation, statements concerning our debt capital needs and future liquidity position. Such statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from the results of operations or plans expressed or implied by such forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore such statements included in this press release may not prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the results or conditions described in such statements or our objectives and plans will be achieved. For a further discussion of these and other factors that could impact future results, performance or transactions, see the information under the heading “Risk Factors” in our Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (the “SEC”) on February 10, 2026 and other reports filed with the SEC from time to time. Forward-looking statements and such risks, uncertainties and other factors speak only as of the date of this press release. New risks and uncertainties may arise over time and it is not possible for us to predict those events or how they may affect us. We expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein, to reflect any change in our expectations with regard thereto, or any other change in events, conditions or circumstances on which any such statement is based, except to the extent otherwise required by law.
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