Financing ·
Four Corners Property Trust entered into a Fifth Amended and Restated Revolving Credit and Term Loan Agreement…
FCPTFour Corners Property Trust, Inc.
Four Corners Property Trust entered into a Fifth Amended and Restated Revolving Credit and Term Loan Agreement, upsizing the facility from $940 million to $1.15 billion. The transaction includes a new $400 million senior unsecured term loan maturing in August 2031, with $360 million drawn at close. Proceeds will repay $190 million of near-term debt maturing in November 2026 and February 2027, while $210 million funds investments and general corporate purposes. The agreement improves credit margins to SOFR + 0.90% for term loans and SOFR + 0.85% for revolving loans, potentially saving $450,000 annually. Existing term loan maturities were extended, and the company maintains a well-laddered debt profile with 82% of overall debt fixed. Four Corners Property Trust is a real estate investment trust primarily engaged in the ownership, acquisition, and leasing of net-leased restaurant and retail properties.