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American Realty Capital Trust IV Completes $750MM Facility With Regions as Agent

June 20, 2013, 07:28 AM
Filed Under: Real Estate

American Realty Capital Trust IV, Inc. announced that on June 18, 2013, through its operating partnership, it entered into a $750 million credit facility with Regions Bank, JP Morgan Chase Bank, N.A., Wells Fargo Bank, National Association, Bank of America, N.A. and RBS Citizens, N.A. (collectively, the "Lenders"). The credit facility relates to the $750.0 million of financing commitments previously received by the Company from the Lenders. Through an "accordion feature," ARCT IV may increase its borrowings under the credit facility to up to $1.5 billion. The Company has guaranteed the obligations under the credit facility. ARCT IV expects to use some of the financing available under the credit facility to complete its acquisition phase along with cash on hand from its recently completed initial public offerings.

Regions Bank will act as Administrative Agent for the credit facility and J.P. Morgan Securities, LLC will act as a Joint Lead Arranger.

Nicholas S. Schorsch, Chairman and Chief Executive Officer of ARCT IV commented, "We are extremely pleased to have finalized this credit facility with such a strong complement of lenders. With up to $1.5 billion of total capacity, coupled with remaining offering proceeds, we are well-positioned to complete our announced and pipeline  acquisitions and complete our strategic initiatives."

ARCT IV is a publicly registered, non-traded real estate investment trust ("REIT") that qualified as a REIT for tax purposes for the taxable year ended December 31, 2012.





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