American Finance Trust, Inc. announced that it has issued $240 million of long-term fixed-rate notes designated as AFIN's Net-Lease Mortgage Notes, Series 2021-1. The net proceeds from the sale of the notes will be used primarily to repay certain indebtedness, including a $74 million loan at 5.50% interest. The notes were issued in four classes in a private placement to institutional investors. Notes aggregating $150 million are rated AAA by Standard & Poor's ("S&P") consisting of $55 million of 7-year Class A-1 notes issued at an interest rate of 2.21% and $95 million of 10-year Class A-2 notes issued at an interest rate of 2.79%. Two classes are rated A by S&P consisting of $35 million of 7-year Class A-3 notes issued at an interest rate of 3.03% and $55 million of 10-year Class A-4 notes issued at an interest rate of 3.60%. The weighted-average interest rate of all classes of the notes is 2.88% and the weighted-average loan term is 8.9 years. The transaction settled on June 3, 2021.