NETSTREIT Corp.: amends term loans and adds $400,000,000 delayed draw facility

What happened

• NETSTREIT Corp reported that on Sep 28, 2026 NETSTREIT, L.P. (the Borrower) and NETSTREIT Corp. entered into a First Amendment to Term Loan Agreement and Incremental Agreement with PNC Bank, National Association (the PNC Term Loan Amendment). The amendment increased the 2031 term loan by $100,000,000 to $300,000,000, increased the 2032 term loan by $50,000,000 to $300,000,000, and established a new $400,000,000 senior unsecured, 7-year delayed draw term loan facility (the 2033 Term Loan) that may be drawn until Sep 28, 2027. The Incremental Term Loans were fully funded on the Closing Date and the 2033 Term Loan was undrawn on the Closing Date.
• The filing states the Borrower used borrowings under the Incremental Term Loans and the remaining $50,000,000 draw under the 2032 Term Loan to repay in full a $200,000,000 term loan that was scheduled to mature in Feb 2028.

Key details

• 2033 Term Loan matures on Sep 28, 2033 and is repayable at the Borrower’s option, subject to a prepayment premium of 2.0% in the first year and 1.0% in the second year; undrawn amounts incur a ticking fee of 0.20% per annum beginning 91 days after the Closing Date and ending Sep 28, 2027.
• Interest rates under the PNC Term Loan Agreement are determined as follows: for the 2031 Term Loan, either SOFR plus a margin of 0.75% to 1.55% or a Base Rate plus a margin of 0.00% to 0.55%; for the 2032 and 2033 Term Loans, either SOFR plus a margin of 1.15% to 2.20% or a Base Rate plus a margin of 0.15% to 1.20%, each based on the Company’s credit rating and consolidated total leverage ratio.
• The PNC Term Loan Amendment reduced the applicable margin spread under the 2031 Term Loan by 5 basis points. The Company and certain material subsidiaries reaffirmed their guarantee of obligations under the PNC Term Loan Agreement and related hedging and cash management obligations.
• On Sep 28, 2026 the Borrower and the Company also entered into parallel amendments to the Wells Fargo Credit Agreement, the PNC Credit Agreement and the Truist Term Loan Agreement implementing conforming changes, including reductions to applicable margin spreads, and reaffirming guarantees and related obligations.

Why it may matter

• Item reported: Item 1.01 (entry into a material definitive agreement) and Item 2.03 (creation of a direct financial obligation). The filing describes amended and new term loan facilities, funding and related guarantees and amendments to the company’s existing credit agreements.
• The filing does not show why the insider traded or why the company acted.