National Retail Properties amends credit agreement to replace LIBOR with SOFR as base rate

NNN REIT, INC.

December 16, 2022: First Amendment to Second Amended and Restated Credit Agreement executed with Wells Fargo as Administrative Agent and syndicate of lenders.
Base rate under credit agreement changed from LIBOR to Adjusted Secured Overnight Financing Rate (SOFR).
All other terms and conditions of the existing credit agreement remain in full force and effect.
No changes to principal amount, maturity, or financial covenants reported.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NNN REIT, INC. amended First Amendment to Second Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as Administrative Agent, and a syndicate of lenders named therein (effective 2022-12-16).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association, as Administrative Agent, and a syndicate of lenders named therein
Effective: 2022-12-16

Exact text from the filing

National Retail Properties, Inc. (the “Company”) entered into that certain First Amendment to Second Amended and Restated Credit Agreement, dated as of December 16, 2022 (the “Credit Agreement”), with Wells Fargo Bank, National Association, as Administrative Agent, and a syndicate of lenders named therein.

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Source: SEC EDGAR

accession 0000950170-22-026753

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