Short answer
Four Corners Property Trust, Inc. (FCPT) filed an 8-K current report with the SEC on April 7, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 7.01 (Regulation FD Disclosure), Item EX-99.1 (Exhibit EX-99.1). $200M senior unsecured delayed-draw facility, with $50M funded at closing and $100M incremental accordion capacity.
Four Corners Property Trust, Inc. 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- $200M senior unsecured delayed-draw facility, with $50M funded at closing and $100M incremental accordion capacity
- Maturity April 6, 2033, with no required amortization and parent guarantees from FCPT and Four Corners GP
- SOFR-based pricing at 1.15%–2.20% margin, determined by FCPT’s credit rating
- 0.25% ticking fee begins after 90 days on unfunded commitments; early repayment fees apply before year two
- Financial covenants include maximum 60% total leverage and minimum 1.50x fixed-charge coverage ratio
Item 7.01 · Regulation FD Disclosure
- FCPT announced entry into a Loan Agreement, indicating new or amended financing arrangements
- Exhibit 99.1 contains the substantive loan terms and financial implications for investors
Item EX-99.1 · Exhibit EX-99.1
- New $200M senior unsecured term loan, seven-year maturity on April 6, 2033
- $50M drawn immediately for investments and corporate purposes; $150M available for pipeline acquisitions
- 1.25% SOFR credit margin based on BBB/Baa3 senior debt ratings
- 96% of term loans hedged; overall debt profile 98% fixed rate through November 2027
- Fully drawn facility implies approximately 5.4x run-rate leverage, within stated 5.0x–6.0x range
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
Other Four Corners Property Trust, Inc. 8-K filings
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