The new capital injection mirrors the terms of the company's existing $300 million facility, which is set to mature in February 2029. To mitigate interest rate volatility, NNN REIT initiated a $100 million forward-starting swap, fixing the SOFR at 3.43% for the duration of the loan term. CFO Vincent H. Chao noted that the move is designed to bolster financial flexibility and reduce the firm’s overall cost of capital.

Beyond the new borrowing, NNN REIT successfully negotiated lower pricing on both its term loan and revolving credit facility. Reflecting the company's current credit standing, the SOFR-based margin for the term loan was reduced to 0.800% from 0.850%, while the revolving credit facility margin dropped to 0.725% from 0.775%. Wells Fargo Securities and BofA Securities acted as the joint lead arrangers for the transaction, supported by a syndicate of financial institutions including Truist, PNC, and U.S. Bank.