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KeyBank Agents Upsize for STORE Capital

February 13, 2018, 07:07 AM
Filed Under: Real Estate

STORE Capital Corporation, an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, announced that it has expanded its unsecured revolving credit facility from $500 million to $600 million and the accordion feature from $300 million to $800 million for a total maximum borrowing capacity of $1.4 billion. The credit facility matures in February 2022 and includes two six-month extension options, subject to certain conditions.

Effective February 9, 2018, the Company entered into an amended and restated credit agreement with certain banks and other lenders, including KeyBank National Association, as administrative agent, KeyBanc Capital Markets Inc. and Wells Fargo Securities, LLC as joint lead arrangers and joint bookrunners, and Wells Fargo Bank, National Association, as syndication agent.

“This expanded credit facility is a great show of support from our lending partners and adds meaningfully to our financial flexibility and liquidity,” said Chris Volk, President and Chief Executive Officer of STORE Capital. “The increased borrowing capacity enables us to continue to meet the strong demand for our flexible financing solutions, builds on our own continued flexibility, and puts us in a good position to address our pipeline of investment opportunities.”

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