Broadstone Net Lease Announces $1.5 Billion of Extended and Increased Credit Facilities
Broadstone Net Lease (NYSE: BNL) has successfully closed a $1.5 billion Amended and Restated Credit Agreement, comprising a $1.0 billion revolving credit facility and a $500 million term loan. The revolving facility matures in March 2029 with two six-month extension options, while the term loan matures in March 2028 with two 12-month extension options.
The new term loan replaces BNL's existing $400 million term loan due February 2026 and includes a three-month delayed-draw feature for the additional $100 million of commitments. The Credit Facilities enhance the company's financial flexibility with increased liquidity, improved borrowing rates, and favorable adjustments to financial covenants.
The transaction was led by major financial institutions including J.P. Morgan Chase Bank, Capital One, Bank of Montreal, M&T Bank, and Truist Bank as Joint Bookrunners and Joint Lead Arrangers.
Broadstone Net Lease (NYSE: BNL) ha chiuso con successo un Accordo di Credito Modificato e Ristampato da 1,5 miliardi di dollari, che comprende un prestito revolving da 1,0 miliardi di dollari e un prestito a termine da 500 milioni di dollari. La linea di credito revolving scade a marzo 2029 con due opzioni di estensione di sei mesi, mentre il prestito a termine scade a marzo 2028 con due opzioni di estensione di dodici mesi.
Il nuovo prestito a termine sostituisce il prestito a termine esistente di BNL da 400 milioni di dollari in scadenza a febbraio 2026 e include una funzionalità di prelievo posticipato di tre mesi per ulteriori impegni di 100 milioni di dollari. Le strutture di credito migliorano la flessibilità finanziaria dell'azienda con una maggiore liquidità, tassi di prestito migliorati e aggiustamenti favorevoli ai vincoli finanziari.
La transazione è stata guidata da importanti istituzioni finanziarie tra cui J.P. Morgan Chase Bank, Capital One, Bank of Montreal, M&T Bank e Truist Bank come Joint Bookrunners e Joint Lead Arrangers.
Broadstone Net Lease (NYSE: BNL) ha cerrado con éxito un Acuerdo de Crédito Modificado y Restablecido de 1.5 mil millones de dólares, que incluye una línea de crédito revolving de 1.0 mil millones de dólares y un préstamo a plazo de 500 millones de dólares. La línea de crédito revolving vence en marzo de 2029 con dos opciones de extensión de seis meses, mientras que el préstamo a plazo vence en marzo de 2028 con dos opciones de extensión de doce meses.
El nuevo préstamo a plazo reemplaza el préstamo a plazo existente de BNL de 400 millones de dólares que vence en febrero de 2026 e incluye una característica de extracción diferida de tres meses para compromisos adicionales de 100 millones de dólares. Las instalaciones de crédito mejoran la flexibilidad financiera de la empresa con mayor liquidez, tasas de interés mejoradas y ajustes favorables a los convenios financieros.
La transacción fue liderada por importantes instituciones financieras, incluyendo J.P. Morgan Chase Bank, Capital One, Bank of Montreal, M&T Bank y Truist Bank como Joint Bookrunners y Joint Lead Arrangers.
브로드스톤 넷 리스 (NYSE: BNL)는 15억 달러 규모의 수정 및 재작성된 신용 계약을 성공적으로 체결했습니다. 이 계약에는 10억 달러 규모의 회전 신용 시설과 5억 달러 규모의 기간 대출이 포함됩니다. 회전 신용 시설은 2029년 3월 만기이며, 6개월 연장 옵션이 두 번 있으며, 기간 대출은 2028년 3월 만기이며 12개월 연장 옵션이 두 번 있습니다.
새로운 기간 대출은 2026년 2월 만기인 BNL의 기존 4억 달러 규모의 기간 대출을 대체하며, 추가 1억 달러의 약속에 대해 3개월의 지연 인출 기능을 포함합니다. 신용 시설은 증가된 유동성, 개선된 대출 금리 및 재무 약정에 대한 유리한 조정을 통해 회사의 재무 유연성을 향상시킵니다.
이번 거래는 J.P. 모건 체이스 은행, 캐피탈 원, 몬트리올 은행, M&T 은행, 그리고 트루이스트 은행이 공동 주관사 및 공동 주선자로 참여한 주요 금융 기관들이 이끌었습니다.
Broadstone Net Lease (NYSE: BNL) a réussi à finaliser un Accord de Crédit Modifié et Restitué de 1,5 milliard de dollars, comprenant une facilité de crédit revolving de 1,0 milliard de dollars et un prêt à terme de 500 millions de dollars. La facilité revolving arrive à échéance en mars 2029 avec deux options d'extension de six mois, tandis que le prêt à terme arrive à échéance en mars 2028 avec deux options d'extension de douze mois.
Le nouveau prêt à terme remplace le prêt à terme existant de BNL de 400 millions de dollars qui doit arriver à échéance en février 2026 et comprend une fonctionnalité de tirage différé de trois mois pour des engagements supplémentaires de 100 millions de dollars. Les installations de crédit améliorent la flexibilité financière de l'entreprise avec une liquidité accrue, des taux d'emprunt améliorés et des ajustements favorables aux engagements financiers.
La transaction a été dirigée par d'importantes institutions financières, y compris J.P. Morgan Chase Bank, Capital One, Bank of Montreal, M&T Bank et Truist Bank en tant que Joint Bookrunners et Joint Lead Arrangers.
Broadstone Net Lease (NYSE: BNL) hat erfolgreich ein modifiziertes und neu gefasstes Kreditabkommen über 1,5 Milliarden US-Dollar abgeschlossen, das eine 1,0 Milliarden US-Dollar umfassende revolvierende Kreditfazilität und ein 500 Millionen US-Dollar umfassendes Terminkredit umfasst. Die revolvierende Fazilität läuft im März 2029 aus und bietet zwei Optionen zur Verlängerung um sechs Monate, während das Terminkredit im März 2028 ausläuft und zwei Optionen zur Verlängerung um zwölf Monate bietet.
Das neue Terminkredit ersetzt das bestehende Terminkredit von BNL über 400 Millionen US-Dollar, das im Februar 2026 fällig wird, und beinhaltet eine drei Monate verzögerte Abrufoption für zusätzliche Verpflichtungen in Höhe von 100 Millionen US-Dollar. Die Kreditfazilitäten verbessern die finanzielle Flexibilität des Unternehmens durch erhöhte Liquidität, verbesserte Kreditkonditionen und vorteilhafte Anpassungen der finanziellen Vereinbarungen.
Die Transaktion wurde von großen Finanzinstituten geleitet, darunter J.P. Morgan Chase Bank, Capital One, Bank of Montreal, M&T Bank und Truist Bank als Joint Bookrunners und Joint Lead Arrangers.
- Increased total credit facility by $1.5 billion
- Extended debt maturity profile with no maturities until April 2027
- Secured $100 million additional term loan capacity
- Improved borrowing rates
- Enhanced financial flexibility and liquidity
- None.
Insights
Broadstone Net Lease's new
The structure of these facilities offers notable financial advantages: extended maturity dates (2028-2029 vs. 2026), built-in extension options, and improved borrowing rates as mentioned in the release. The delayed-draw feature on the term loan provides additional flexibility for deploying capital when needed rather than immediately.
For context, this
The strong banking consortium supporting this transaction - including JPMorgan, Capital One, BMO, and seven other major institutions - signals broad financial sector confidence in BNL's business model and creditworthiness. The favorable covenant adjustments mentioned align with their investment strategy, potentially allowing more operational flexibility for new acquisitions in their net lease portfolio.
The amended revolving credit facility has an initial term of four years, maturing in March 2029, and includes two six-month extension options that can be exercised at the Company’s election. The new term loan replaces the Company’s existing
Kevin Fennell, Chief Financial Officer of Broadstone, commented, “We are grateful for the strong support of our banking partners, demonstrating their continued confidence in BNL. This successful transaction significantly enhances our financial flexibility and increases our weighted average debt maturity profile. With ample liquidity, no near-term debt maturities until April 2027, and a robust pipeline of investment opportunities, we are well positioned to execute on our growth objectives through our core building blocks.”
J.P. Morgan Chase Bank, N.A., Capital One, National Association, Bank of Montreal, Manufacturers and Traders Trust Company, and Truist Bank acted as Joint Bookrunners and Joint Lead Arrangers. Other Joint Lead Arrangers included Keybanc Capital Markets, Inc., Regions Capital Markets, TD Securities (
About Broadstone Net Lease, Inc.
BNL is an industrial-focused, diversified net lease REIT that invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of December 31, 2024, BNL’s diversified portfolio consisted of 765 individual net leased commercial properties with 758 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, retail, and other property types.
Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies, and prospects, both business and financial. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “outlook,” “potential,” “may,” “will,” “should,” “could,” “seeks,” “approximately,” “projects,” “predicts,” “expect,” “intends,” “anticipates,” “estimates,” “plans,” “would be,” “believes,” “continues,” or the negative version of these words or other comparable words. Forward-looking statements, including our 2025 guidance and assumptions, involve known and unknown risks and uncertainties, which may cause BNL’s actual future results to differ materially from expected results, including, without limitation, risks and uncertainties related to general economic conditions, including but not limited to increases in the rate of inflation and/or interest rates, local real estate conditions, tenant financial health, property investments and acquisitions, and the timing and uncertainty of completing these property investments and acquisitions, and uncertainties regarding future distributions to our stockholders. These and other risks, assumptions, and uncertainties are described in Item 1A “Risk Factors” of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the SEC on February 20, 2025, which you are encouraged to read, and will be available on the SEC’s website at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company assumes no obligation to, and does not currently intend to, update any forward-looking statements after the date of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250303992381/en/
Company:
Brent Maedl
Director, Corporate Finance & Investor Relations
brent.maedl@broadstone.com
585.382.8507
Source: Broadstone Net Lease, Inc.
FAQ
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