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Get filing alertsFCPT upsizes credit facility to $1.15B, adds $400M term loan maturing 2031
Filed July 28, 2026 · Period ending July 28, 2026 · ~1 min read
Key Changes
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Entered $400M term loan maturing August 2031; drew $360M at close, remaining $40M by Q3/Q4 2026. Proceeds repay $190M of November 2026 and February 2027 maturities, with $210M incremental capital for investments and general corporate purposes.
Exhibit 99.1 view on EDGAR → -
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Improved credit spreads by 5-10 bps to SOFR+0.90% (term loans) and SOFR+0.85% (revolver), expected to save ~$450K annually across $800M of term loan tranches. All-in term loan rate ~4.5% at current SOFR of 3.6%.
Exhibit 99.1 view on EDGAR → -
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Extended existing $85M term loan tranche maturity to March 2028 with additional one-year extension option at company's discretion, subject to conditions.
Exhibit 99.1 view on EDGAR → -
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72% of term loans swapped to fixed at blended 3.1% rate (effective August 2026); 82% of overall debt profile fixed-rate. Full $350M revolver availability maintained; leverage remains under 6.0x.
Exhibit 99.1 view on EDGAR →
Summary
Four Corners Property Trust refinanced and upsized its credit facility from $940 million to $1.15 billion through a new $400 million term loan maturing in August 2031. The company drew $360 million at close and will draw the remaining $40 million by end of Q3 or early Q4 2026.
The proceeds address near-term debt maturities—$190 million coming due in November 2026 and February 2027—while providing $210 million of incremental capital for acquisitions and general corporate purposes. This proactive refinancing eliminates near-term maturity risk and extends the debt profile.
The amended agreement also delivers improved economics: credit spreads tightened by 5-10 basis points to SOFR+0.90% for term loans and SOFR+0.85% for the revolver, saving an estimated $450,000 annually across the $800 million term loan portfolio. FCPT extended its existing $85 million term loan tranche to March 2028 with an optional one-year extension. The company has hedged 72% of its term loans to a fixed blended rate of 3.1% and maintains 82% fixed-rate debt overall. With full availability on its $350 million revolver and leverage under 6.0x, FCPT has preserved financial flexibility while securing capital for its investment pipeline.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Four Corners Property Trust entered into a Fifth Amended and Restated Revolving Credit and Term Loan Agreement with existing and new lenders.
Added in current filing · verify on EDGAR →
On July 28, 2026, the Company issued a press release announcing entry into a Fifth Amended and Restated Revolving Credit and Term Loan Agreement with a group of existing and new lenders.
Four Corners Property Trust has entered into a Fifth Amended and Restated Revolving Credit and Term Loan Agreement with a group of existing and new lenders. The filing does not disclose the specific terms of the amended credit facility, such as borrowing capacity, interest rates, maturity dates, or covenants. The press release referenced in Exhibit 99.1 may contain additional details but is not included in the 8-K body text provided.
Event · Exhibit 99.1
FCPT upsized credit facility to $1.15B, added $400M term loan maturing 2031, improved spreads by 5-10 bps, and extended $85M tranche to 2028.
Added in current filing · view on EDGAR →
The Credit Agreement increases the overall size of the facility from $940 million to $1.15 billion by entering into a new senior unsecured $400 million term loan (the “2031 Term Loan”) that matures in August 2031. The 2031 Term Loan will be used, in part, to repay $190 million of outstanding loans maturing in November 2026 and February 2027, while $210 million of incremental proceeds are expected to fund investments and other general corporate purposes. $360 million of the 2031 Term Loan was drawn at close, with the remaining balance consisting of delayed draw term loan commitments that are expected to be drawn by the end of Q3 or early Q4 of 2026 to further support the Company's general corporate purposes and fund its investment pipeline.
FCPT entered into a Fifth Amended and Restated Credit Agreement that increases total facility size from $940 million to $1.15 billion through a new $400 million term loan maturing August 2031. The company drew $360 million at close and will draw the remaining $40 million by end of Q3 or early Q4 2026. Proceeds will repay $190 million of near-term maturities (November 2026 and February 2027) and provide $210 million of incremental capital for investments and general corporate purposes.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 29, 2026 · How we verify