NexPoint Residential Trust, Inc. announced that it, through its operating partnership (the "OP"), has closed on the refinancing of its existing corporate revolving credit facility with J.P. Morgan Chase Bank, Raymond James Bank, Royal Bank of Canada, and Synovus. The refinanced credit facility has an initial maturity of June 2028 that may be extended until June 2029. At the Company's election, any amounts borrowed under the credit facility will have an interest rate equal to term Secured Overnight Financing Rate plus 150 basis points (or up to 225 basis points, depending on the immediately preceding quarterly total leverage ratio).

The new credit facility spread has been improved by 15 bps across all leverage ratios compared to the prior corporate credit facility. Subject to conditions provided in the credit facility, the credit facility may be increased by up to an additional $200 million if the lenders agree to increase their commitments. The credit facility is secured by the equity interests of each subsidiary of the OP which owns an interest in a mortgaged property and the proceeds of all equity offerings and other capital events with respect to any loan party or subsidiary and may be used for tax-efficient acquisition strategies, working capital expenditures, and other general corporate purposes.

No indebtedness was outstanding on the existing facility.