Four Corners Property Trust upsizes unsecured credit facility to $1.15B, adds $400M 2031 term loan

Four Corners Property Trust announced a $1.15 billion amended credit facility including a new $400 million 2031 term loan and immediate $360 million draw.Key Highlights:Original SEC Filing: Four Corners Property Trust, Inc. [ FCPT ] - 8-K - Jul. 28, 2026This is an AI-powered summary. It may contain…

Four Corners Property Trust announced a $1.15 billion amended credit facility including a new $400 million 2031 term loan and immediate $360 million draw.

Key Highlights:

Amended facility increases capacity from $940M to $1.15B via a new $400M senior unsecured 2031 term loan.
$360M of the 2031 term loan drawn at close; remaining $40M are delayed draws expected by end Q3/early Q4 2026.
$190M of existing loans maturing in Nov‑2026/Feb‑2027 to be repaid with the 2031 term loan; $210M for investments and general purposes.
Improved credit margins: term loans at SOFR +0.90% and revolver at SOFR +0.85%; ~4.5% all‑in term loan rate based on current SOFR ~3.6%.
Estimated 5–10 bps spread improvement could save about $450,000 annually across $800M of term loan tranches.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.