debt
confidence high
sentiment positive
materiality 0.60
Broadstone Net Lease closes $1.5B credit facilities, extends maturities on revolver and term loan
Broadstone Net Lease, Inc.
- $1.0B revolver maturing March 2029 with two six-month extension options; $500M term loan maturing March 2028 replacing $400M due 2026.
- Borrowing margins improved: revolver Term Benchmark rate 0.85%, Base Rate 0.0%; term loan Term Benchmark 0.95%, Base Rate 0.0%.
- Term loan includes delayed-draw feature for an incremental $100M, available within three months.
- Accordion feature allows increasing total facility size to $2.5B subject to lender consent.
- Conforming amendments entered for existing 2027 and 2029 term loans.