Global Net Lease announced that a consortium of banks have provided an indicative commitment to KeyBank, in its capacity as lead arranger and administrative agent under a confidential mandate letter executed in favor of the Company, to provide funding for a $500 million expansion of GNL's credit facility to facilitate the proposed merger with The Necessity Retail REIT, Inc. ("RTL") and the simultaneous internalization of management, subject to satisfaction or waiver of customary closing conditions (the "Closing Conditions") including the closing of the merger and internalization. The accordion feature will be available upon the satisfaction of such Closing Conditions.

"We are very pleased to announce the arrangement of a strong consortium of lenders to expand our credit facility by $500 million to nearly $2 billion, which will pave the way for the consummation of the merger with RTL, internalization of management, and enhanced corporate governance we previously announced," said Jim Nelson, CEO of GNL. "This outcome of the syndication efforts, which was $370 million over-subscribed, is a great testament to the confidence the lending community has in the combined company and illustrates broad support for the proposed transaction. On a pro-forma basis, we expect the credit facilities for the combined company to have $350 million1 of borrowing capacity after closing. Along with Mike Weil, the CEO of RTL, we appreciate all of the parties involved the syndication efforts. At a time when others are struggling to find financing, the strength of our well-constructed portfolio, featuring long-term leases to investment-grade tenants, coupled with the benefits of the proposed merger and internalization, once more demonstrated our ability to create value for shareholders."