NexPoint Residential Trust, Inc. Completes Refinancings of 17 Properties

Core Viewpoint - NexPoint Residential Trust, Inc. has successfully closed 17-property agency mortgage refinancings, significantly improving its debt profile and extending its debt maturity schedule [1][2][4]. Debt Refinancing Summary - The company has refinanced a total of 34 loans, resulting in gross proceeds of $1.469 billion, which accounts for approximately 97.8% of its total outstanding debt [2]. - The refinancing has improved the interest rate pricing compared to prior terms, reducing the weighted average interest rate on total debt by 48 basis points to 5.65% before the impact of interest rate swaps [3]. - After accounting for interest rate swaps, the adjusted weighted average interest rate is expected to decrease from 3.44% to 2.95% [3]. - The refinancing extends the company's weighted average debt maturity to approximately 6.82 years, with only about 2.2% of total debt maturing through 2028, down from approximately 33% [2][3]. Financial Position and Strategy - The company has total indebtedness of$ 1.503 billion at an adjusted weighted average interest rate of 5.65%, with $1.469 billion of this being floating rate debt [8]. - Interest rate swap agreements cover 72.6% of the floating rate mortgage debt, effectively managing interest rate risk [8]. - The completion of this refinancing initiative is viewed as a strategic move to fortify the company's balance sheet and support future growth [4][9].