Loan & DebtApr 30, 2026, 04:28 PM
NREF Secures $375M Term Loan, Repays $185.2M Notes
AI Summary
NexPoint Real Estate Finance, Inc. secured a $375.0 million senior secured term loan facility from Mizuho Capital Markets LLC. The company drew $310.0 million from the facility and used $185.2 million of the proceeds to repay its 5.75% senior unsecured notes due May 1, 2026. The loan matures on May 1, 2029, and bears interest at a variable rate of SOFR (2.0% floor) plus 4.0%, with a Total Return Swap reducing the net interest cost to SOFR (2.0% floor) plus 2.45%.
Key Highlights
- Secured a $375.0 million senior secured term loan facility.
- Drew $310.0 million from the facility on April 29, 2026.
- Repaid $185.2 million of 5.75% senior unsecured notes due May 1, 2026.
- Loan matures on May 1, 2029, with two six-month extension options.
- Interest rate is SOFR (2.0% floor) + 4.0% per annum.
- Total Return Swap reduces net interest cost to SOFR (2.0% floor) + 2.45%.
- Initial notional amount of TRS is $310.0 million.