11:21 AM EDT, 04/08/2024 (MT Newswires) -- Global Net Lease ( GNL ) said Monday it completed a $237 million commercial mortgage-backed security loan secured by 20 US industrial assets that were previously secured under a corporate credit facility.

The new loan matures in April 2029 and has a fixed all-in interest rate of 5.74%, or 159 basis points lower than the floating interest rate on the dollar portion of the corporate credit facility, the company said.

The lower interest rate will generate a $3.5 million cut in annualized interest costs, the company said.

Global Net Lease ( GNL ) shares rose 3.4% in recent trading Monday.

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