Netstreit Investor Presentation Deck
Debt, Capitalization, and Financial Ratios (cont'd)
(unaudited, dollars in thousands)
Net Debt
Principal amount of total debt
Less: Cash, cash equivalents and restricted cash
Net debt
Net debt / Annualized Adjusted EBITDAre
Key Debt Covenant Information
Consolidated total leverage ratio
Fixed charge coverage ratio
Maximum secured indebtedness
Maximum recourse indebtedness
Unencumbered leverage ratio
Unencumbered interest coverage ratio
Liquidity
Unused unsecured revolver capacity
Cash, cash equivalents and restricted cash
Total Liquidity
Total Proforma Liquidity (¹)
Equity
Common shares (2)
OP units (2)
Total
Enterprise Value
Principal amount of total debt
Equity market capitalization (2)
Total enterprise value
Required
≤ 60.0%
NETSTREIT
≥ 1.50x
≤ 40.0%
≤ 10.0%
≤ 60.0%
≥ 1.75x
Ending Shares/ Units
as of June 30, 2023
66,991,597
507,773
67,499,370
1. Total proforma liquidity includes the addition of the $250.0 million senior unsecured term loan that closed on July 3, 2023.
2. Value is based on the June 30, 2023 closing share price of $17.87 per share.
$
$
$
$
$
$
$
$
June 30, 2023
Actual
28.0%
5.18x
0.5%
-%
30.2%
6.00x
489,472
(13,140)
476,332
4.6x
As of June 30, 2023
294,000
13,140
307,140
557,140
Equity Market
Capitalization
1,197,140
9,074
1,206,214
As of June 30, 2023
489,472
1,206,214
1,695,686
% of Total
% of Total
99.2 %
0.8 %
100.0 %
28.9 %
71.1%
100.0 %
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