NNN REIT, Inc. Announces New $300 Million Term Loan

ORLANDO, Fla., Dec. 17, 2025 /PRNewswire/ -- NNN REIT, Inc. (NYSE: NNN) ("NNN" or the "Company"), a real estate investment trust, today announced the closing of a $300 million senior unsecured delayed draw term loan facility (the "Term Loan"). The Term Loan has a six-month delayed draw feature and an accordion option to increase the aggregate facility size to up to $500 million. The Term Loan matures on February 15, 2029, with two one-year extension options. No funds have been drawn on the Term Loan to date. Based on NNN's current credit ratings, the applicable margin on the Term Loan is 0.85%. The Company expects to use future proceeds from the Term Loan for general corporate purposes.

"We are pleased with today's announced execution, which enhances the Company's financial flexibility and supports NNN's long-term growth strategy," said Vincent H. Chao, Chief Financial Officer. "We appreciate the continued support from our banking partners as we position the Company for sustained success and to extend its 36-year track record of consecutive annual dividend increases."

In anticipation of the Term Loan, NNN entered into forward starting swaps totaling $200 million that fix SOFR at 3.22% through January 15, 2029.

Additionally, NNN amended its existing $1.2 billion senior unsecured revolving credit facility to remove the 10-basis point SOFR credit spread adjustment.

Wells Fargo Securities, LLC and BofA Securities, Inc., served as the Joint Lead Arrangers and Joint Bookrunners, with Wells Fargo Bank, National Association acting as the Administrative Agent and Bank of America, N.A. acting as the Syndication Agent.

Truist Securities, Inc., PNC Capital Markets LLC, U.S. Bank National Association, Royal Bank of Canada and TD Bank, N.A. served as Joint Lead Arrangers, with Truist Bank, PNC Bank, National Association, U.S. Bank National Association, Royal Bank of Canada and TD Bank, N.A. acting as Documentation Agents, and with Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and Raymond James Bank also participating in the transaction.

About NNN REIT, Inc.
NNN REIT invests in high-quality properties subject generally to long-term, net leases with minimal ongoing capital expenditures. As of September 30, 2025, the Company owned 3,697 properties in 50 states with a gross leasable area of approximately 39.2 million square feet and a weighted average remaining lease term of 10.1 years. For more information on the Company, visit www.nnnreit.com.

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SOURCE NNN REIT, Inc.