Four Corners Property Trust, Inc. 8K

Four Corners Property Trust upsized and extended its unsecured credit facility via a new $400 million 2031 term loan with improved pricing, extended maturities, and increased fixed-rate hedging to support investments and refinance near-term debt.

Four Corners Property Trust, a net-lease REIT, entered into a Fifth Amended and Restated Revolving Credit and Term Loan Agreement that upsizes its unsecured credit facility from $940 million to $1.15 billion through a new $400 million senior unsecured term loan maturing in August 2031, of which $360 million was drawn at closing and the balance is a delayed draw to be funded by late Q3 or early Q4 2026. The company will use approximately $190 million of the new term loan to repay loans maturing in November 2026 and February 2027 and expects to deploy the remaining $210 million toward investments and general corporate purposes, while maintaining full availability under its $350 million revolver. FCPT obtained improved credit spreads such that, based on its current BBB/Baa3 ratings, term loans will price at SOFR + 0.90% and revolver borrowings at SOFR + 0.85%, resulting in an all-in term loan rate of roughly 4.5% at current SOFR levels and an estimated $450,000 of annual interest savings across $800 million of term loan tranches. The amendment also extends the maturity of an $85 million term loan tranche to March 2028 with a one-year extension option, and, with additional SOFR swaps put in place, FCPT expects by August 2026 to have 72% of its term loans and 82% of total debt fixed, contributing to a well-laddered, largely fixed-rate debt profile that supports its acquisition pipeline while remaining under 6.0x leverage.

Filing Facts

CIK

1650132

Ticker

-

Form

8K

Source Type

sec

Accession

0001193125-26-321084

Alert Tier

6