Broadstone Net Lease, Inc. (BNL): debt financing — 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.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Broadstone Net Lease, Inc. amended revolving credit of $1,000,000,000 with JPMorgan Chase Bank, N.A. (as administrative agent) and the lenders party thereto at 0.850% per annum for Term Benchmark or RFR Loans and 0.000% per annum for Base R maturing March 31, 2029.

Instrument: revolving credit
Principal: $1,000,000,000
Counterparty: JPMorgan Chase Bank, N.A. (as administrative agent) and the lenders party thereto
Rate: 0.850% per annum for Term Benchmark or RFR Loans and 0.000% per annum for Base R
Maturity: March 31, 2029
Event: amendment

Exact text from the filing

which provides for: (i) a revolving credit facility in an aggregate principal amount of $1,000,000,000 (the “Revolving Loan Facility”) maturing on March 31, 2029

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Broadstone Net Lease, Inc. incurred term loan of up to $500,000,000 with JPMorgan Chase Bank, N.A. (as administrative agent) and the lenders party thereto at 0.950% per annum for Term Benchmark or RFR Loans and 0.000% per annum for Base R maturing March 31, 2028.

Instrument: term loan
Principal: up to $500,000,000
Counterparty: JPMorgan Chase Bank, N.A. (as administrative agent) and the lenders party thereto
Rate: 0.950% per annum for Term Benchmark or RFR Loans and 0.000% per annum for Base R
Maturity: March 31, 2028
Event: incurrence

Exact text from the filing

(the “Revolving Loan Facility”) maturing on March 31, 2029 (the “Revolving Loan Maturity Date”); and (ii) a term loan facility in an aggregate principal amount of up to $500,000,000 (the “Term Loan Facility”) maturing on March 31, 2028 (the “Term Loan Maturity Date”). The Operating Company has the option to extend the term of (i) the Revolving Loan Facility

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8 debt financings filed in the last 30 days. Browse all debt financings →

Broadstone Net Lease, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-25-030388

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