NTST 8-K: NETSTREIT amends credit agreement to replace LIBOR with SOFR as interest rate benchmark

NETSTREIT amends credit agreement to replace LIBOR with SOFR as interest rate benchmark

NETSTREIT Corp.

Amendment No. 7 replaces LIBOR with SOFR as the benchmark rate under the credit agreement.

No material changes to financial terms, covenants, or total commitments ($425M).

Effective January 27, 2023; all lenders and administrative agent have executed.

This is a routine update due to LIBOR phase-out, not a substantive change.

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

NETSTREIT Corp. amended Amendment No. 7 with the financial institutions party thereto, Wells Fargo Bank, National Association, as Administrative Agent, KeyBank National Association, Capital One, National Association, Truist Bank, Bank of Montreal, U.S. Bank National Association, PNC Bank, National Association and Regions Bank (effective 2023-01-27).

Action: amendment
Agreement: credit facility
Counterparty: the financial institutions party thereto, Wells Fargo Bank, National Association, as Administrative Agent, KeyBank National Association, Capital One, National Association, Truist Bank, Bank of Montreal, U.S. Bank National Association, PNC Bank, National Association and Regions Bank
Effective: 2023-01-27

Exact text from the filing

On January 27, 2023, NETSTREIT, L.P. (the “Borrower”) and NETSTREIT Corp. (the “Company”) entered into Amendment No. 7 (the “Amendment”) to the Company’s Amended and Restated Credit Agreement, dated December 23, 2019, by and among the Borrower, the Company, the financial institutions party thereto, Wells Fargo Bank, National Association, as Administrative Agent, KeyBank National Association, Capital One, National Association, Truist Bank, Bank of Montreal, U.S. Bank National Association, PNC Bank, National Association and Regions Bank (the “Credit Agreement”).

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