Netstreit amends PNC term loan deal, adds $400 million delayed-draw facility
NTST•Netstreit amended its PNC-led term loan agreement on Sept. 28, 2026, adding $150 million in funded term loans and a $400 million delayed-draw facility. Proceeds repaid a $200 million loan due in February 2028, and the remaining $50 million draw under the 2032 facility was used.
1. Expanded loan facilities
Netstreit amended its PNC-led term loan agreement on Sept. 28, 2026, adding $150 million of funded term loans. The amendment expanded the 2031 term loan to $300 million and increased the 2032 term loan to $300 million.
2. New delayed-draw loan
The company also put in place a $400 million senior unsecured, seven-year delayed-draw term loan due in 2033, available to draw until Sept. 28, 2027. Proceeds repaid a $200 million term loan due in February 2028, and the remaining $50 million draw under the 2032 facility was used.
3. Pricing terms
Pricing reset to SOFR plus 0.75%–1.55% for the 2031 loan and SOFR plus 1.15%–2.20% for the 2032 and 2033 loans, tied to leverage.
