Four Corners Property Trust upsizes unsecured credit facility to $1.15 billion with new $400 million term loan
FCPT•Credit facility expanded and term loan added
Four Corners Property Trust entered a fifth amended and restated revolving credit and term loan agreement, lifting the total unsecured facility size to $1.15 billion from $940 million.
- Added a new senior unsecured $400 million term loan maturing August 2031; $360 million was drawn at close.
- Proceeds are earmarked to repay $190 million of loans due November 2026 and February 2027, with $210 million for investments and general corporate purposes.
- Pricing tightened to SOFR + 0.9% on term loans and SOFR + 0.85% on the revolver; the all-in term-loan rate is about 4.5% at current SOFR.
- An existing $85 million term loan tranche was extended to March 2028, with a one-year extension option; revolver availability was cited at $350 million.
