Global Net Lease Completes $1.8 Billion Refinancing of Revolving Credit Facility

Core Viewpoint - Global Net Lease, Inc. has successfully refinanced its $1.8 billion Revolving Credit Facility, extending the maturity date to August 2030 and achieving a 35-basis point reduction in interest spread, which will save the company approximately $2 million annually in interest costs [1][2]. Group 1: Refinancing Details - The refinancing extends the maturity date from October 2026 to August 2030, including two 6-month extension options [1]. - The company has achieved a 35-basis point reduction in interest spread due to improved pricing, resulting in an expected annual interest savings of approximately $2 million [1][5]. - GNL now has no significant debt maturities until 2027, enhancing its liquidity position [1][5]. Group 2: Management Commentary - CEO Michael Weil emphasized that the refinancing strengthens GNL's balance sheet and reduces the cost of capital, with a total reduction of 70 basis points in the spread since Q3 2024 [2]. - The CEO expressed gratitude for the support from existing lenders and welcomed new lenders, indicating confidence in the company's strategic direction [2]. Group 3: Lender Participation - A total of eight lenders are involved in the refinanced facility, with BMO Bank N.A. serving as the Administrative Agent [2]. - Existing lenders include KeyBank National Association, Truist Bank, Citizens Bank, N.A., and The Huntington National Bank, along with new participants such as Bank of America, N.A., Manufacturers and Traders Trust Company, and First Horizon Bank [2]. Group 4: Company Overview - Global Net Lease, Inc. is a publicly traded real estate investment trust (REIT) listed on the NYSE, focusing on acquiring and managing a global portfolio of income-producing net lease assets across the United States and Western and Northern Europe [3].