NNN REIT Secures $300 Million Term Loan and Amends $1.2 Billion Credit Facility

Reuters12-18 06:00

NNN REIT Secures $300 Million Term Loan and Amends $1.2 Billion Credit Facility

NNN REIT, Inc. has closed a new $300 million senior unsecured delayed draw term loan facility, with the option to increase the facility size up to $500 million. The term loan matures on February 15, 2029, and includes two one-year extension options. No funds have been drawn yet, and the applicable margin is 0.85% based on current credit ratings. The company plans to use proceeds for general corporate purposes. In anticipation of the loan, NNN entered into forward starting swaps totaling $200 million to fix SOFR at 3.22% through January 15, 2029. Additionally, NNN amended its existing $1.2 billion senior unsecured revolving credit facility to remove the 10-basis point SOFR credit spread adjustment. The financing involved several major financial institutions, including Wells Fargo, Bank of America, Truist, PNC, U.S. Bank, Royal Bank of Canada, TD Bank, Mizuho Bank, Sumitomo Mitsui Banking Corporation, and Raymond James Bank.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. NNN REIT Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: FL49997) on December 17, 2025, and is solely responsible for the information contained therein.

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The term loan matures on February 15, 2029, and includes two one-year extension options. No funds have been drawn yet, and the applicable margin is 0.85% based on current credit ratings. The company plans to use proceeds for general corporate purposes. In anticipation of the loan, NNN entered into forward starting swaps totaling $200 million to fix SOFR at 3.22% through January 15, 2029. Additionally, NNN amended its existing $1.2 billion senior unsecured revolving credit facility to remove the 10-basis point SOFR credit spread adjustment. The financing involved several major financial institutions, including Wells Fargo, Bank of America, Truist, PNC, U.S. Bank, Royal Bank of Canada, TD Bank, Mizuho Bank, Sumitomo Mitsui Banking Corporation, and Raymond James Bank.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. 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