NETSTREET announces $550 million in additional financing commitments
NTST•NETSTREET secured $550 million in additional financing commitments and amended existing credit facilities, including a reduction in the applicable margin spread on its PNC credit agreements.
1. Financing commitments
NETSTREET increased its 5.5-year senior unsecured term loan by $100 million and its seven-year senior unsecured term loan by $50 million; both were fully funded at closing. It also established a $400 million seven-year delayed-draw term loan available until September 28, 2027, and amended its PNC credit agreements, including a reduction in the applicable margin spread.
