Global law firm Greenberg Traurig represented Global Net Lease (GNL) in a $1.8 billion refinancing of its revolving credit facility, extending the maturity date from October 2026 to August 2030, inclusive of two six-month extension options.
The refinancing provides GNL an immediate 35-basis point reduction in interest spread due to improved pricing, increased liquidity and an extended weighted average debt maturity, according to the company’s statement.
Greenberg Traurig represented GNL in negotiations and closing of the transaction. A total of eight lenders participated, with BMO Bank acting as administrative agent. Additionally, Greenberg Traurig attorneys in Milan advised on Italian guarantor aspects of the deal.
“This complex transaction showcased the firm’s extensive debt financing and capital markets capabilities, while also highlighting the benefit to clients of our collaborative culture and global platform,” Thomas R. Martin, Miami corporate practice shareholder, who led the Greenberg Traurig deal team, said. “GNL’s strong market positioning enabled the company to secure highly favorable terms for this refinancing, extending the term for a number of years. It was truly an honor to work alongside their exceptional team and help advance their strategic objectives for this transaction.”
“Greenberg Traurig continues to be an exceptionally knowledgeable advisor for GNL’s real estate, corporate and financing needs,” Jesse Galloway, executive vice president and general counsel at GNL, said. “The firm’s global footprint is particularly well suited to handle our needs across various markets, providing us with comprehensive guidance throughout this transaction and many others.”
Martin was assisted in representing GNL by corporate associates Kyle C. Ffrench in Boston and Zachary Gregg in Miami. The team also included corporate shareholders Joseph A. Herz in New York and Win Rutherfurd in Boston.
